SunSirs: China Rrefined Petroleum Coke Market Continued to Decline Last Week

https://www.chemnet.com   Jul 31,2024 SunSirs

According to the commodity analysis system of SunSirs, the market for refined petroleum coke continued to decline last week. As of July 29th, the price of refined petroleum coke in the Shandong market was 1,466.75 RMB/ton, a decrease of 1.43% from 1,488.00 RMB/ton on July 22nd.

On the cost side: The crude oil market continues to decline. On the one hand, the geopolitical situation has eased, which is bearish for the crude oil market. In addition, the strengthening of the US dollar has affected economic activity in the United States due to hurricanes, putting some pressure on crude oil demand. There are signs of a slowdown in US crude oil exports. On the other hand, there are also signs of slowing economic growth in the Eurozone and China, especially the decline in China's crude oil imports, which has had a negative impact on the crude oil market.

Supply side: Last week, the shipment of petroleum coke from local refineries was active, and the prices of petroleum coke from refineries fluctuated. Some refineries adjusted their prices based on sulfur content, and downstream purchases of petroleum coke were limited, with average transactions. Recently, the shipment of petroleum coke from ports has been active, coupled with the gradual arrival of imported petroleum coke at ports. However, due to weather conditions, the unloading speed has slowed down, and the overall inventory at ports has declined.

On the demand side: Currently, the overall production of silicon metal market is still at a relatively high level. Although the production in some areas has decreased, the overall supply and demand performance of the market is still unbalanced, and the pressure on the supply side still exists. The support of silicon metal from the supply side has not improved significantly. At present, the demand for petroleum coke procurement from metallic silicon is still acceptable, supporting the petroleum coke market.

Last week, the market for sulfur calcined coke has been weakly consolidated, and the upstream petroleum coke market is weak. Currently, most companies are stabilizing their prices and shipping, while downstream companies are mainly observing and waiting.

Last week, the market for medium sulfur calcined coke was weakly consolidated, and the upstream petroleum coke market was weak. Currently, most companies are stabilizing their prices and shipping, while downstream companies are mainly observing and waiting.

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