SunSirs: China Local Refined Petroleum Coke Market Continued to Decline in September, 2024

https://www.chemnet.com   Oct 09,2024 SunSirs

According to the commodity analysis system of SunSirs, the market for locally refined petroleum coke continued to decline in September. The mainstream average price of petroleum coke products from major domestic refineries was 1,428.50 RMB/ton on September 30th and 1,454.00 RMB/ton on September 1st, with a monthly decline of 1.75%.

Cost wise: The crude oil market experienced a significant decline in September, as the geopolitical situation in the Middle East affected the trend. The easing of the situation at the beginning of the month led to a significant drop in the crude oil market; Since September, there have been concerns about the future demand for crude oil market, which has led to a continuous decline in the oil market; Finally, due to the rise in US crude oil inventories and negative factors, the overall crude oil market prices have significantly decreased.

Supply side: In September, some refineries resumed production, and the market supply increased. Refineries actively shipped to digest inventory, while downstream purchases were made according to demand. Refineries adjusted the price of petroleum coke based on indicators and inventory. At the end of the month, some downstream petroleum coke enterprises stocked up before the holiday, and refineries actively shipped to digest inventory. Refinery inventory was overall low, and refinery petroleum coke prices fluctuated. In September, imported petroleum coke continued to arrive at the port, but the speed of destocking at the port was average, and the overall port inventory was high.

On the demand side: Currently, the overall market for silicon metal is not volatile, and downstream demand is still cautious in stocking up. Some regions have adjusted prices narrowly due to demand, and the overall support for the silicon metal market is average. In the short term, the domestic silicon metal market will mainly adjust within a certain range. At present, the demand for purchasing petroleum coke from metallic silicon is average, and the support for the petroleum coke market is average.

In September, the market for sulfur calcined coke saw a slight decline, with limited downstream demand. Currently, most companies are stabilizing their prices and shipping, while downstream companies are mainly observing and waiting.

Yunnan electrolytic aluminum enterprises are nearing the end of their resumption of production, with high daily output and narrowing upward space; Overseas New Zealand direction, due to power shortages, supply has slightly decreased. Downstream multiple sectors have experienced a rebound in operating rates, with electrolytic aluminum and aluminum rod inventories both experiencing slight destocking. It is expected that supply and demand will stabilize in the short term. Aluminum carbon enterprises have a strong wait-and-see attitude and focus on on-demand procurement.

Currently, the overall trading of the local petroleum coke market is average, and some refineries have basically signed orders during the National Day holiday. It is expected that the local petroleum coke market will remain stable during the holiday period, and there may be demand for replenishment in some downstream areas after the holiday, so the local petroleum coke market may rise.

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