Mid-August Downward Trend in Local Refinery Petroleum Coke Prices

August 19th, news:

According to the commodity analysis system, the price of petroleum coke from local refineries in Shandong market declined in mid-August. By August 19, the price was 2,535.00 CNY/ton, a decrease of 1.93% from 2,585.00 CNY/ton on August 11.

In mid-August, crude oil prices fluctuated, mainly due to the market awaiting the results of the meeting between the US and Russian leaders, with the geopolitical situation still expected to further ease.

In mid-August, the overall market for petroleum coke from local refineries in China showed a downward trend, with moderate sales from the refineries. The prices of petroleum coke from some refineries fluctuated significantly according to the specifications, showing both increases and decreases. Downstream enterprises showed moderate enthusiasm for purchasing petroleum coke, and refineries mostly shipped goods based on demand. Recently, the trading of petroleum coke at ports has been active, with port inventory continuously decreasing. The resumption of operations by silicon enterprises in southwestern China has been beneficial for the trading of Formosa coke.

In mid-August, the calcined coke market saw a slight increase. Most companies in China have sold out their orders for this month, with low inventory levels, and there is a strong intention to push up prices for new orders.

Market Forecast: Currently, trading activity in the independent refinery petroleum coke market is moderate. Downstream rigid demand procurement continues to support the petroleum coke market, though buyers remain cautious. As a result, petroleum coke prices are expected to consolidate weakly in the near term.