Petroleum Coke fluctuates narrowly with mixed gains and losses; Electrolytic Aluminum weakens amid volatility
September 28, 2026 Pre‑holiday market swings narrowly, coke prices mixed A game‑playing sentiment prevails in China’s domestic petroleum coke market ahead of the holiday, with prices adjusting within a narrow range. Performance varies among major refineries: PetroChina refineries keep trading prices stable; Sinopec maintains stable pricing for shipments; CNOOC sees no notable changes in mainstream concluded deals. Prices at local independent refineries show mixed movements, supported by downstream restocking ahead of the holiday. Imported coke traders hold firm on offers, while end‑users buy only to meet rigid demand. Downstream producers keep regular output and replenish inventories as needed approaching the National Day holiday. Market trading momentum slows. The petroleum coke market is expected to see minor ups and downs tomorrow amid overall stabilityCanada.ca.
Market stays steady pre‑holiday; spot trading turns cautious Trading activity for calcined petroleum coke (CPC) weakens. The low‑sulfur calcined coke segment is dominated by performance of long‑term contract orders. Spot supplies remain tight with limited new spot inquiries. Deals for medium‑ and high‑sulfur calcined coke are mostly small rigid‑demand transactions, lacking clear price drivers. Firm prices of upstream green petroleum coke form a solid cost floor for calcined coke. Downstream anode material and graphite electrode sectors adopt a cautious procurement stance. In the short run, calcined coke still gets cost‑side support, yet downstream buying interest softens ahead of the holiday. The calcined coke market is projected to remain stable in the near term.
Weaker macro sentiment weighs down aluminum prices The domestic spot benchmark price for electrolytic aluminum stood at RMB 24,216 per tonne, dropping RMB 69 from the previous session. A stronger US Dollar Index overseas dampens sentiment across base metals, while LME Aluminum fluctuates at high levels. Domestic social inventories of aluminum ingots keep drawing down. Downstream fabricators maintain steady operating rates ahead of the National Day holiday, yet market caution rises and large‑scale pre‑holiday restocking is absent. Sellers in East China increase cargo disposal, and downstream buyers only make sporadic purchases on dips. Trading activity in South China stays muted. Tomorrow’s spot aluminum price is forecast to swing within RMB 23,900‑24,320 per tonne.