【CPC】 Analysis of Market Supply and Demand Trends as Profit Declines 

for calcined petroleum coke in November

In the period from January to November 2023, taking China domestic (General Cargo) 3.0 calcined petroleum coke (CPC ) as an example, the average price dropped to 2642 yuan/ton, with a year-on-year decrease of approximately 45%. Similarly, the average price for domestic medium to high sulfur petroleum coke from January to November was 1824 yuan/ton, experiencing a year-on-year decline of 49%.  

Despite an overall improvement in the operating conditions of calcined petroleum coke profits compared to 2022, there has been a noticeable decline in profits since mid-October. 

Source: Oilchem

For the period from January to October 2023, China domestic production of calcined petroleum coke totaled 18.755 million tons, representing a year-on-year increase of 5.54%. In contrast, the import volume from January to October amounted to 172,900 tons, witnessing a year-on-year decrease of 14.91%. The overall domestic supply increased by 5.31%. Additionally, in terms of calcined petroleum coke exports for the same period, the quantity reached 1.1546 million tons, marking a 4.00% decrease compared to the previous year.

Source: Oilchem, China Customs

From January to October 2023, the domestic apparent consumption of calcined petroleum coke saw a year-on-year increase of 1 million tons, representing a growth rate of nearly 6%. The projected consumption level for petroleum coke in China in 2023 is expected to reach 44 million tons, reflecting an 8% year-on-year increase.

As of late November, some calcined petroleum coke enterprises have experienced low processing loads due to poor order situations and profit conditions. Overall, there may be a slight decline in calcined petroleum coke production in November and December. It is anticipated that with the gradual reduction in petroleum coke prices by the end of November, calcined petroleum coke profits may stabilize at a lower level. Feel free to contact us for more information on CPC market forecasts.