【Petroleum Coke】Stable Market Shipment, Partial Price Fluctuations

Currently, China domestic market for petroleum coke witnessed slowed trading activities, with individual fluctuations in mainstream prices and a partial decline in prices for refinery shipments. In terms of major operations, the low-sulfur coke market showed mixed trends in shipments, with the low-sulfur coke from China National Offshore Oil Corporation (CNOOC) in the South China region experiencing good sales and narrow price increases, while low-sulfur coke from China Petroleum & Chemical Corporation (Sinopec) in the Northeast region maintained decent shipments supported by negative electrode materials. However, the steel carbon market provided weak support, leading to a negative impact on petroleum coke shipments from some refineries. The market for medium-to-high sulfur petroleum coke remained stable, with slower shipments from refineries in the Xinjiang region and reduced enthusiasm from downstream enterprises. Consequently, some refineries adjusted their coke prices to match the market conditions. 

On the local refining front, cautious market sentiments prevailed among buyers due to the influx of low-priced imported resources. As a result, the overall shipments of domestically produced petroleum coke slowed down, prompting refineries to actively increase their shipments while occasionally adjusting prices. Shengxing Petrochemical in Shandong province adjusted the sulfur content of its petroleum coke to around 6.0% in accordance with the latest transaction prices. Yongxin Petrochemical offered petroleum coke for export, primarily producing the 4A grade. Zhonghai Petrochemical adjusted its raw material specifications and is currently not quoting prices. In the East China region, New Sea Petrochemical in Jiangsu province faced pressure in petroleum coke shipments, leading to another round of price adjustments. Zhejiang Petrochemical officially opened bidding for petroleum coke, with positive purchasing attitudes from downstream buyers.

In terms of demand, the graphite cathode market displayed active procurement activities, while the low-sulfur calcined coke market maintained stable shipments and continued price increases. The production enthusiasm for regular low-sulfur calcined coke remained acceptable. The carbon for aluminum market witnessed weakened trading, with significant price corrections in the electrolytic aluminum sector, dropping to around 18,000 yuan per ton. The production enthusiasm in the intermediate carbon segment was moderate, and market participants adopted a more cautious approach, resulting in a slowdown in purchasing operations for petroleum coke from refineries.

With the recent arrival of low-cost imported petroleum coke, domestic shipments of petroleum coke weakened overall, and downstream enterprises became more hesitant towards the end of the month, negatively impacting the petroleum coke market. In the short term, the domestic petroleum coke market is expected to continue trading with a weak sentiment, with some refineries anticipating narrow downward price adjustments. June Forecast for the Petroleum Coke Market: Consult with Us for More Information.