1、 Price data
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According to the bulk list data of the Business News Agency, the price of petroleum coke from local refiners fell sharply this week. On March 27, the average price in the Shandong market was 2151.50 yuan/ton, down 14.84% from the price of 2526.50 yuan/ton on March 20.
The petroleum coke commodity index on March 27 was 167.34, down 21.39 points from yesterday, down 59.06% from the cycle’s highest point of 408.70 points (2022-05-11), and up 150.17% from the lowest point of 66.89 points 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 fell sharply, and local refineries actively scheduled inventory, 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.
This week, the international crude oil market fluctuated and rose, the pressure of the banking crisis eased, and the oil market rebounded from a low level. The Federal Reserve raised interest rates by 25bp, which met market expectations and suggested that the pace of interest rate hikes would be suspended. The decline of the US dollar supported the rise of oil prices.
The price of calcined coke fell sharply this week; This week, metal silicon continued to explore under pressure, and the decline at the end of the week slowed down. As of March 27, the average price of 441 # metal silicon spot market in China was 16890 yuan/ton, down 1.97% on a weekly basis. The spot market transaction remained light, with some businesses selling at low prices, but it was difficult to improve the weak situation; Downstream electrolytic aluminum prices fluctuated and rose, as of March 27, the price was 18416.67 yuan/ton; Downstream aluminum carbon enterprises are cautious in purchasing, and lack enthusiasm for entering the market.
According to the petroleum coke analysts from Business News, the inventory of petroleum coke in domestic ports is currently at a high level for a long time, with sufficient market supply, serious shortage of procurement at the downstream demand end, and excessive market supply. In the near future, the situation of oversupply in the domestic market will continue; Local refining enterprises are facing difficulties in shipping, actively reducing prices to remove inventory, while downstream enterprises are cautious in purchasing, and lack enthusiasm for entering the market. It is expected that petroleum coke refining in the near future may continue to decline.
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