【Petroleum Coke】Downstream Watchful Sentiments Gradually Rise, 

Overall Market Shipments Moderate

Currently, China’s major refineries trading remains relatively stable, with local refineries showing moderate shipments, and most downstream buyers mainly procuring on-demand.

In terms of Sinopec, demand in the downstream anode and carbon markets in the Yangtze River region remains acceptable. Petroleum coke shipments from refineries are still acceptable, with Changling Refinery shipping based on 3#A/3#B, Wuhan Petrochemical shipping interchangeably based on 3#B/3#C, and Anqing Petrochemical shipping based on 3A. In the South China region, high-sulfur petroleum coke shipments are stable, and Maoming Petrochemical uses all petroleum coke for self-use. Beihai Refinery ships based on 4A, and Guangzhou Petrochemical ships based on 4#, and the production of graphitized petroleum coke market. PetroChina's low-sulfur coke shipments in the Northeast region are currently performing moderately, with most refineries continuing to implement price maintenance sales. The recent demand for new energy in the terminal is moderate, with most battery manufacturers mainly destocking. The enthusiasm for bulk purchasing by negative electrode companies after the holiday has not shown a clear increase. Refineries in the Northwest region are currently trading steadily, with inventory at a medium to low level. PetroChina's refineries in the Northeast region are currently mainly shipping orders, and most orders have been executed before the holiday.

In terms of local refineries, the overall petroleum coke market shipments are relatively moderate at present. Some low-priced petroleum coke prices have risen by 10-50 yuan/ton, while some high-priced petroleum coke shipments are under pressure, and prices continue to fall by 30-50 yuan/ton. In recent times, the pressure on the shipment of pitch coke in the Northwest is gradually evident, and some refinery coke prices have been adjusted downward. The market is currently fluctuating, with Dongming Petrochemical's old plant having a sulfur content of about 3.28%, and Shida Technology's petroleum coke sulfur content has risen to about 3.6%.

In terms of imported coke, the market for imported sponge coke is stable, with traders mainly executing shipments according to previous contracts. Due to strong demand and tight supply, the high-sulfur pellet coke market has smooth shipments, and the market's trading is stable for medium and low-sulfur pellet coke.

The demand of downstream carbon and silicon metal enterprises is relatively stable. The negative electrode materials market currently has sufficient supply, with moderate downstream procurement enthusiasm. The silicon carbide industry has increased production, resulting in good demand for high-sulfur pellet coke.

The petroleum coke market is generally running weakly and steadily, with stable trading of petroleum coke in major refineries. It is expected that petroleum coke prices will remain generally stable in the short term. As for local refineries, petroleum coke shipments are relatively moderate, and downstream companies are just-in-time buyers. It is expected that the local refinery market will continue to maintain a weak and stable situation tomorrow, with some refineries still having downward price space, with a range of about 20-100 yuan/ton. An upward price expectation is not ruled out for high-sulfur pellet coke. Follow us and get the latest market updates on petroleum coke products.