Petroleum Coke Market for Local Refineries Drops Sharply in Late April

April 30 news

According to the commodity analysis system, the price of petroleum coke from local refineries in Shandong significantly declined in late April. By April 30, the price was 3151.75 CNY/ton, down 8.15% from 3431.50 CNY/ton on April 20.

U.S.-Iran peace talks have stalled, prompting market concerns that the supply of crude oil from the Middle East will continue to be disrupted, leading to a rise in international oil prices.

In late April, some refineries experienced poor shipment, leading to a gradual accumulation of inventory pressure. To accelerate cash flow, companies have lowered their quotations one after another. The downstream purchasing sentiment is average, and the market entry mood is rather cautious, resulting in insufficient market support. The maintenance season for Chinese refineries continues, with some units undergoing shutdowns for maintenance. However, the earlier imported petroleum coke arrivals are still being digested, keeping port inventories at high levels, which continuously negatively impacts the market.

Market Forecast: Downstream demand in the electrolytic aluminum and carbon industries is unlikely to show significant improvement during the off-season. Market sentiment remains largely one of wait-and-see, with traders adopting a cautious approach. Trading activity in the market is generally moderate, and smelters continue to face inventory pressure, focusing primarily on active sales and volume generation. In the near term, petroleum coke prices are likely to remain stable at low levels, fluctuating within a narrow range.