June 28th, news:
According to the commodity analysis system, this week's petcoke market of local refineries in China showed a mixed trend, with a slight overall decline. As of June 26, the price of petcoke in the Shandong market was 3,226 CNY/ton, a decrease of 0.77% from 3,251 CNY/ton on June 22.
This week, international oil prices have declined, with the main bearish factors being: a significant easing of tensions between the US and Iran, continuous improvement in navigation through the Strait of Hormuz, and plans by oil-producing countries such as Iraq to accelerate production increases, all of which have put pressure on the oil market.
Recently, some refineries in Shandong have entered a plant maintenance period, leading to a decline in the facility utilization rate of delayed coking. This, combined with the previous reduction in production at some refineries, has led to a decrease in the supply of petroleum coke from local refineries in China. However, the recent concentration of imported petroleum coke arriving at ports has resulted in an overall increase in the supply of petroleum coke in the market.
Market Forecast: On the supply side, maintenance at independent refineries in major producing regions such as Shandong continues, and the operating rate of delayed coking remains low. Additionally, the volume of imported petroleum coke arriving at ports is likely to decline somewhat. Overall, these factors are putting downward pressure on the petroleum coke market. On the cost side, international crude oil prices continue to fall, lacking sustained positive support, which is fueling bearish sentiment in the market. On the demand side, short-term recovery in demand from downstream carbon industries remains elusive. End-user aluminum smelters and graphite companies are adopting a conservative procurement approach, making it difficult for rigid demand to increase significantly. Overall, in the short term, petroleum coke prices are likely to remain stable with a downward trend.
