October Petrocoke Prices Continue to Rise

November 3rd, according to news,

According to the commodity analysis system, the price of petcoke from local refineries continued to rise in October. The average price of medium-sulfur petcoke products from major local refineries in China was 2813.25 CNY/ton on October 31, compared to 2387.75 CNY/ton on October 1, with a monthly price increase of 17.92%.

On the cost front: In October, international crude oil prices experienced volatile downward movements. During the first half of the month, OPEC+ continued increasing production, while tensions between Israel and Palestine gradually eased—yet lingering U.S. tariff concerns could still spark new risks, leading to a drop in global oil prices. By mid-month, market participants grew concerned about the risk of oversupply, and the trade dispute initiated by the U.S. further dampened demand prospects, pushing international oil prices even lower. Toward the end of the month, however, the U.S. imposed new sanctions on Russian oil companies, heightening worries about potential supply disruptions—and as a result, global oil prices rebounded.

Supply side: In October, the price of petcoke from local refineries in China rose, with refineries actively shipping out. The prices of petcoke fluctuated, and some refineries adjusted their specifications, leading to noticeable changes in coke prices according to these adjustments. Downstream buyers were active, providing support to the petcoke market, and refinery shipments were good. In October, imported petcoke was in short supply, and some traders suspended their quotes. Port shipments of petcoke were still acceptable, and the price of sponge coke continued to rise, with moderate trading activity in the market.

On the demand side: Currently, the supply of metallurgical-grade silicon is showing significant divergence. As the dry season approaches in the southwestern region, metallurgical silicon producers in Yunnan and Sichuan are gradually cutting back production, with some companies expected to further reduce their operational loads by the end of this month. Consequently, the overall utilization rate in Southwest China is anticipated to continue declining. Meanwhile, the northwestern region has seen a slight uptick in its overall operating rates, thanks to the resumption of work at major plants in Xinjiang, which has boosted regional output levels. Despite this partial offset from the Northwest, the market as a whole continues to face substantial supply pressure. Meanwhile, the silicon industry maintains steady demand for petroleum coke.

In October, the market for medium-sulfur calcined coke saw prices rise, as raw petroleum coke continued to climb, putting significant pressure on calcined coke costs. Consequently, companies kept raising their quotes, while downstream buyers remained cautious in their purchasing decisions.

Aluminum prices strengthened in October. According to the commodity market analysis system, as of October 31, 2025, the average price of aluminum ingots in China's East China market stood at 21,293.33 CNY per ton, up 2.70% from the average of 20,733.33 CNY per ton on October 1. China’s peak consumption season continues, supporting strong demand for aluminum. Although higher aluminum prices have somewhat dampened downstream purchasing enthusiasm, end-users are still maintaining essential procurement activities. Meanwhile, downstream carbon products used in aluminum production continue to rely primarily on rigid demand from the petroleum coke market.

Market Forecast: Currently, local refineries are experiencing strong shipments of petroleum coke, while port inventories continue to decline. Additionally, the benchmark price for pre-baked anode purchases in November has risen, further boosting the petroleum coke market. As a result, petroleum coke prices are expected to remain on an upward trajectory in the near term.