The petroleum coke market continues to decline (3.13-3.19)

1、 Price data


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According to the bulk list data from Business News, the price of petroleum coke from local refiners continued to decline this week. On March 19, the average price in the Shandong market was 2601.50 yuan/ton, down 3.70% from the price of 2701.50 yuan/ton on March 13.


The petroleum coke commodity index on March 19 was 202.34, unchanged from yesterday, down 50.49% from the cycle’s highest point of 408.70 (2022-05-11), and up 202.50% from the lowest point of 66.89 on March 28, 2016. (Note: The cycle refers to September 30, 2012 to now)


2、 Analysis of influencing factors


This week, the price of petroleum coke in refineries continued to decline, and local refineries actively scheduled their inventories, resulting in poor delivery and investment. Downstream enterprises were cautious in receiving goods. In addition to high domestic port inventory, the current petroleum coke market is still in a situation of oversupply.


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International crude oil plummeted this week: The collapse of a Silicon Valley bank in the United States, coupled with the disappointing inflation report data from the United States, has raised concerns about financial risks in the market. In addition, the jitters of Credit Suisse have hit the financial market, putting pressure on risky assets such as stock markets and crude oil, and adding to the negative impact of a more than expected increase in U.S. crude oil inventories, which has subsequently dragged down oil demand and caused crude oil prices to plummet.


The price of calcined coke decreased this week; The contradiction between supply and demand of metallic silicon is fierce, and downstream demand is poor. At the same time, the supply end has a slight increase in furnace opening, and the output continues to increase. The pressure for silicon factories to go to storage is high; The downstream electrolytic aluminum price fluctuated downward, and as of March 19, the price was 18166.67 yuan/ton; Downstream aluminum carbon enterprises mainly purchase based on demand, and are cautious in receiving goods.


Oil coke analysts from Business News believe that international crude oil plummeted this week, with limited cost support for oil coke; Currently, the storage of petroleum coke in domestic ports is at a high level for a long time, with sufficient market supply and strong wait-and-see sentiment; Local refining enterprises are actively destocking, while downstream enterprises are cautious in purchasing, and their enthusiasm for entering the market is not good. It is expected that petroleum coke refining in the near future may decline.

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