Petroleum coke market price

Sinopec refineries are shipping according to demand. Since yesterday, some refineries have made minor adjustments to coke prices: Yangzi Petrochemical in East China raised medium-low sulfur coke by 20 yuan/ton, while Gaoqiao Petrochemical increased 4#B coke by 20 yuan/ton. In South China, Beihai Refinery lowered prices by 50 yuan/ton. Coke prices at refineries in other regions remain stable for now.

Sinopec-affiliated refineries in Northeast China saw price hikes: Jinzhou Petrochemical and Jinxi Petrochemical increased by 80 yuan/ton, Jilin Petrochemical by 70 yuan/ton, and Liaohé Petrochemical by 50 yuan/ton. Shipments generally faced no pressure. In Northwest China, Karamay Petrochemical raised prices by 100 yuan/ton, while other refineries maintained stable prices. Demand for aluminum carbon products remained steady.

CNOOC-affiliated refineries shipped orders as scheduled today.

Among independent refineries, petroleum coke shipments remained acceptable, with coke prices mostly rising. At the beginning of the month, downstream carbon enterprises showed moderate purchasing enthusiasm for petroleum coke to replenish inventories. Combined with low refinery stockpiles, this supported coke price increases of 20-180 yuan/ton. However, some high-priced petroleum coke saw sluggish sales, and with deteriorating quality indicators in certain cases, coke prices fell by 30-150 yuan/ton. Today, Yatong Petrochemical's sulfur content rose to 3.8%, with the latest quote at 1,900 yuan/ton; Haike Ruilin Petroleum Coke's sulfur content increased to 1.65%, with the quote reduced by 150 yuan/ton.

For imported coke, port petroleum coke trading activity remains robust with inventory actively being absorbed. Low-sulfur coke at ports sees stable small-order transactions, while pellet coke continues to prioritize volume sales.

Supply

As of September 1, 25 coking units nationwide remain shut down for maintenance. Daily petroleum coke output stands at 82,350 tons, with coking capacity utilization at 64.58%, unchanged from the previous working day.

Demand

Downstream demand for aluminum-grade carbon products remained stable. Anode material orders were generally steady, with acceptable shipments of anode coke and minimal inventory pressure. The silicon carbide sector continued to show demand for high-sulfur pellet coke. Graphite electrode production remained at low levels overall, resulting in subdued demand for petroleum coke feedstock.

Market Outlook

Downstream buyers showed reasonable purchasing enthusiasm at the beginning of the month, coupled with refinery inventories mostly at low-to-medium levels, which supported petroleum coke shipments. Therefore, Baichuan Yingfu expects petroleum coke prices to remain largely stable tomorrow, with some local refineries still anticipating upward price movements.

Translated with DeepL.com (free version)