Petcoke/CPC Market overview（2023.4.14-2023.4.20）

-Petroleum Coke

This week (2023.4.14-2023.4.20) the overall sales of petroleum coke market is ok, domestic coke market is short of supply, refinery petroleum coke inventory generally fell to a medium low level, coke prices continue to push up. Up to April 20, the average price of petroleum coke in the market was 2367 RMB/ton, 34 RMB/ton higher than the average price of the same period last week, increased 0.22%.

The average daily shipment of major ports this week was 15,900 tons, and the total port inventory was 4.1953 million tons, increased 1.27 percent from the previous month.

In general: May Day holiday is coming, downstream enterprises will stock up with high enthusiasm for receiving goods.However, the port petroleum coke inventory is high for a long time, restricting the price rise of domestic coke.Limited gains in coke prices are expected next week. The main price range of petroleum coke, low sulfur coke (sulfur 0.5%) price 2,800-3800 RMB/ton, medium sulfur coke (sulfur within 3.0%) price 1500-2700 RMB/ton, high sulfur coke (sulfur about 5.0% general goods) price 1300-1500 RMB/ton.

-Calcined Petroleum Coke

This week (2023.4.14-2023.4.20), the domestic calcined petroleum coke market maintained a stable operation. The price of raw petroleum coke continued to rise, but the downstream purchasing enthusiasm was not high. The market price of CPC was generally stable, with some prices rising slightly. Up to this Thursday, the average price of low sulfur CPC market was 5000 RMB/ton, stable compared with the same period last week; The average market price of medium sulfur (sulfur 3.0%, vanadium within 350ppm) CPC was 2800 RMB/ton, stable compared with the average price of the same period last week.

This week, the market demand for low-sulfur CPC is still weak. Most enterprises maintain a stable sales. Some enterprises are boosted by the raw material end. Medium and high sulfur CPC market trading is ok, with some prices slightly pushed up 50-100 RMB/ton.

In general, low sulfur CPC: The market supply is sufficient.May Day holiday is coming, but downstream enterprises are not motivated in stocking up. It is expected that the price of low sulfur CPC will be mainly stable next week, and some low-priced enterprises will increase the price by 300-400 RMB/ton boosted by the raw material end. Medium and high sulfur CPC: There is still support in the raw material end, but the medium and high sulfur CPC market is in a state of oversupply with weak price rise. It is expected that the price of medium and high sulfur CPC will remain stable next week, with some prices rising by 50-100 RMB/ton or so.