Supply and Demand Support Continuous Rise in Domestic Refinery Petroleum Coke Prices

November 4th, according to reports

According to the commodity analysis system, the recent market for petroleum coke from local refineries in China has been continuously rising. As of November 3, the price of petroleum coke from local refineries in the Shandong market was 2845.75 CNY/ton, an increase of 1.88% from 2793.25 CNY/ton on October 27.

Recently, international crude oil prices saw a slight increase. The main reasons include declining U.S. commercial crude oil inventories, positive signals emerging from China-U.S. trade negotiations, and the possibility of U.S. action against Venezuela, which has heightened supply risks and driven up global oil prices.

Recently, the price of petroleum coke from local refineries in China has been continuously rising, with refineries actively shipping out their products. The prices of petroleum coke have shown both increases and decreases recently. Some refineries have adjusted their indicators, leading to significant changes in the coke prices; downstream buyers are purchasing actively, providing support to the petroleum coke market, and refinery shipments are still acceptable. Recently, the inventory of petroleum coke at ports in China has been continuously decreasing, with some imported petroleum coke supplies becoming tight. Traders have suspended their quotations, and the price of sponge coke has increased, with good market transactions.

Recently, the price of medium-sulfur calcined coke has risen. The cost of raw material, petroleum coke, has been continuously increasing, putting significant pressure on the cost of calcined coke. Downstream buyers in China are being cautious with their purchases.

Market Forecast: Currently, local refineries are experiencing strong shipments of petroleum coke, while port inventories continue to decline. Additionally, with the benchmark purchase price for pre-baked anodes rising in November, downstream carbon companies and the negative-electrode material market are actively stocking up, further boosting demand in the petroleum coke sector. As a result, the petroleum coke market is expected to remain on an upward trajectory in the near term.