The overall price of refined petroleum coke has risen this week

According to the Commodity Analysis System of Business Society, the overall price of refined petroleum coke in Shandong market has increased this week. As of January 14th, the price of refined petroleum coke in Shandong market was 1787.50 yuan/ton, an increase of 0.70% from January 8th at 1775.00 yuan/ton.

 

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Cost side: The international crude oil market has been fluctuating and declining this week, mainly due to concerns about future energy demand caused by Saudi Arabia’s comprehensive reduction in crude oil prices, as well as increased production from the Organization of the Petroleum Exporting Countries and its allies (OPEC+), putting pressure on the oil market.

 

Supply side: Currently, sponge coke shipments at the port are good, with fast delivery speed. Recently, there have been fewer arrivals of petroleum coke at the port, and the overall inventory of petroleum coke in the port has declined. This week, downstream enterprises actively stocked up, with good shipments from local refineries and overall low inventory, resulting in an overall increase in the price of local refined petroleum coke.

 

On the demand side: As of January 12th, the number of furnaces opened this week was 301, an increase of 3 compared to last week. Among them, Yunnan and Fujian each increased by 2 units, Guizhou and Sichuan each decreased by 1 unit, Yunnan and Hunan each decreased by 2 units, and Chongqing increased by 1 unit. Recently, some silicon factories on the supply side have started resuming production, and some silicon factories in Chongqing and Yunnan have started production to deliver orders. However, according to the data as of the 11th, the number of weekly furnaces has increased. At present, the demand for purchasing petroleum coke from metallic silicon is still acceptable, supporting the petroleum coke market.

 

This week, the shipment of sulfur calcined coke was average, and the price of calcined coke slightly increased. The price of petroleum coke was high, and the cost of calcined coke was supported.

 

The electrolytic aluminum market continued to decline this week, with prices as of January 14th at 19143 yuan/ton. The price of alumina has fallen, while the price of electrolytic aluminum continues to decline. As the Spring Festival approaches, downstream production has gradually stopped or decreased, resulting in limited demand for electrolytic aluminum. The overall market situation of carbon for aluminum is still good, and the purchase of petroleum coke is maintained as a mandatory requirement.

 

Market forecast: Currently, downstream demand for petroleum coke is still acceptable, but with the impact of high prices of locally refined petroleum coke, downstream wait-and-see sentiment has increased, and procurement is cautious. It is expected that the overall high-level consolidation of locally refined petroleum coke will be the main trend in the near future.

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