Petroleum Coke Prices in Local Refineries Decline in Mid-September

Mid-September Downward Trend in Local Refinery Petroleum Coke Prices]

September 22, News

According to the commodity analysis system, the price of petroleum coke from local refineries in Shandong market declined in mid-September. By September 21, the price was 2,355.00 CNY/ton, a decrease of 3.78% from 2,447.50 CNY/ton on September 11.

Recently, crude oil prices have been fluctuating and rising, primarily due to market concerns over potential supply risks triggered by the Russia-Ukraine conflict, coupled with the Federal Reserve's decision to cut interest rates by 25 basis points, which has provided support for oil prices.

In mid-September, the market for petroleum coke from local refineries in China declined. Refineries had moderate sales, and the prices of petroleum coke from some refineries fluctuated significantly with changes in specifications, leading to mixed price movements. Downstream enterprises showed moderate enthusiasm for purchasing petroleum coke, with a strong wait-and-see attitude, and they were cautious in entering the market to buy. Recently, the trading of petroleum coke at ports has been active, with fewer ships arriving, leading to a continuous decrease in port inventory. The main downstream flow is to carbon products, with some going to silicon carbide factories.

In mid-September, the calcined coke market in China showed a steady upward trend, with downstream buyers being quite active and newly signed orders seeing an increase in prices.

Market Forecast: Currently, trading in the independent refinery petroleum coke market remains sluggish, with downstream buyers showing only moderate interest in purchasing petroleum coke, thus providing limited support to prices. As a result, petroleum coke is expected to consolidate at lower levels in the near term.