【Petroleum Coke】Post-Holiday Recovery! Prices Rise Steadily — Can the Market...

Calcined petroleum coke, with its high carbon content, low sulfur, and low impurities, plays a vital role in modern manufacturing, especially in the aluminum and steel industries.

【Petroleum Coke】Post-Holiday Recovery! Prices Rise Steadily — Can the Market Continue to Increase?

China Petroleum Coke Index Analysis

On February 24, China's mainstream petroleum coke 2#B index stood at 3550.0; the 3#B price index was 3115.0, up 16.67 from the previous working day; the high-sulfur petroleum coke market index stood at 1875; the 1# price index was 4430.0; and the 2# price index was 3983.5.

Mainstream Regional Petroleum Coke Market Prices in China

Today, China's petroleum coke market as a whole showed a steady-to-rising trend, with market activity increasing significantly after the holiday. Prices in Shandong strengthened steadily, with increases concentrated in the range of RMB 50–150/ton, as independent refineries actively shipped and promoted sales volumes. The East China region maintained a stable shipment atmosphere, with prices generally steady and only slight adjustments in some cases. Shipments in the high-sulfur petroleum coke market slowed, with the market mainly in a wait-and-see mode. Among them, the Shanghai 4#B quotation was RMB 1,700/ton, and the overall transaction atmosphere remained cautious.

On the supply side, operating rates at major refineries remained stable. Due to the strict execution of order-based shipments during the Spring Festival period, in-plant inventories generally remained at low levels. Regarding imported coke, newly arrived petroleum coke cargoes during the Spring Festival holiday were concentrated into storage.

On the demand side, some enterprises in the carbon sector showed strong restocking sentiment after the holiday, supporting petroleum coke shipments; however, procurement sentiment in the anode material sector remained relatively cautious and was insufficient to support raw material price increases.

Unit: RMB/ton

Mainstream Regional Calcined Petroleum Coke Market Prices in China

Unit: RMB/ton

Market Outlook

In the near term, domestic petroleum coke supply is expected to decline slightly. Major and local refineries currently have no new startup or shutdown plans, although some refineries may make minor production adjustments. Imported coke cargoes that arrived during the holiday period are gradually entering storage, increasing imported resource supply, and overall supply is expected to fluctuate within a stable range.

From the demand perspective, downstream carbon enterprises still have restocking demand, and market transaction volumes are expected to continue increasing, providing relatively strong support for prices; however, procurement in the anode material sector will remain demand-driven.

It is expected that the national petroleum coke market will continue its steady-to-rising trend tomorrow, with mainstream coke prices remaining generally stable with minor adjustments. In the longer term, attention should be paid to operating conditions of on-site facilities and the pace of downstream demand follow-up.

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