Analysis of petroleum coke index in China
According to Tdd-global's data, on March 13, China's mainstream petroleum coke No. 2 B index stabilized at 4,166.67; the No. 3 B price index stabilized at 2775; the high-sulfur coke market index revolved around 2590, the No. 1 price index was 5690; and the No. 2 price index stabilized at 4450.
Spot market analysis
Recently, the market price of petroleum coke has fluctuated and fell due to the impact of the contradiction between supply and demand. The start of downstream graphite electrodes has mainly remained high, which has supported the increase in the price of low-sulfur coke to a certain extent. However, the market demand for aluminum carbon has performed generally, which is negative for the shipment of medium-high sulfur coke. Under the influence of the prominent inventory of some manufacturers, the market price has fallen somewhat.
Supply:
As the demand for downstream application fields of petroleum coke in China continues to increase, and the supply of domestic petroleum coke is in short supply, demand in overseas markets is weak. Therefore, China's petroleum coke market is mainly imported. Recently, due to the large number of imported petroleum coke arriving in the port, the port's petroleum coke inventories have continued to increase and have repeatedly hit new highs. To a certain extent, they have had a certain impact on Chinese market prices. As of March 11, the total port inventory of petroleum coke was approximately 3.3 million tons. The start-up of China's coking refinery units continues to be at a high level. As a by-product of delayed coking units, the supply of petroleum coke from Chinese refineries is relatively abundant.
Demand side:
After the Spring Festival holiday, the construction of the downstream graphite electrode market continues to increase, and the demand for petroleum coke is still supported. However, the current profits of some companies are average, the industry's caution is still there, and transactions are only just needed; the current transaction situation of negative electrode materials and calcination companies is general. Some companies have limited enthusiasm to enter the market to replenish goods, and the wait-and-see attitude on the market is more obvious. The demand support for low-sulfur coke market is weak, some refineries are under pressure, and the market price fluctuates and falls.
On the whole, the market is still in a situation of oversupply. Most manufacturers in the market are under pressure on shipments. Some manufacturers are affected by the sentiment of "buying up but not buying down" and have little enthusiasm for replenishing goods in the market. It is expected that the market price of petroleum coke may continue to fall slightly in the short term. In the later stage, we need to pay attention to macro policies, crude oil prices and the operation of on-site equipment.
