SunSirs: China Refining Petroleum Coke Market has slightly Increased recently

https://www.chemnet.com   Oct 29,2024 SunSirs

According to the commodity analysis system of SunSirs, the market for locally refined petroleum coke has slightly increased recently. As of October 28th, the price of locally refined petroleum coke in the Shandong market was 1,478.50 RMB/ton, an increase of 0.34% from 1,473.50 RMB/ton on October 21st.

Cost wise: Recently, the overall rise in crude oil prices has been positive for international oil prices due to the tense geopolitical situation in the Middle East. On the other hand, the supply of crude oil remains tight. The OPEC+ 2.2 million barrels per day production reduction before the end of November will still be effective, and some oil producing countries have stated that they will carry out compensatory production cuts. The supply shortage still exists, and the international crude oil price trend is rising. In addition, the local economy in Asia has improved, and the market's panic on demand has eased, boosting the international oil market. Finally, the decrease in US crude oil inventories supported the oil market positively.

Supply side: Recently, downstream demand for refined petroleum coke has been stocking up to support the petroleum coke market. The price of petroleum coke is affected by indicators, and prices fluctuate. Recently, there has been limited availability of low sulfur petroleum coke in the port, with low inventory and increased market inquiries.

On the demand side: Currently, the supply of silicon enterprises in Inner Mongolia, Ningxia, Shaanxi, and Shandong regions is relatively stable, while Yunnan region mainly delivers early-stage orders, and the overall price on the supply side is relatively low and stable. At present, the demand for purchasing petroleum coke from metallic silicon is average, and its support for the petroleum coke market is limited.

Currently, downstream demand for petroleum coke in the refining industry is increasing, supporting the petroleum coke market. It is expected that the price of petroleum coke will be adjusted narrowly based on indicators and inventory in the near future.

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