Supply is still tight superimposed on the increase in refinery costs, coke prices rose
Market Overview: this week, crude oil prices have been pushing up, refinery refining costs have increased, superimposed on the impact of environmental protection and production restriction of the "Paralympic Games" and "two sessions", some refineries have reduced production, and the supply of petroleum coke in the market is still tight, especially medium and low sulfur petroleum coke, with coke prices rising sharply. This week, most of the prices of petroleum coke in Sinopec's refineries rose by 30-130 yuan / ton, the price of petroleum coke continued to rise by 15-200 yuan / ton, the price of CNOOC coke was adjusted by 50-250 yuan / ton, and the coke price of local refineries rose, with a concentrated range of 100-430 yuan / ton.
Factors affecting the market price this week: medium and high sulfur Market: first, in terms of supply, due to the impact of the environmental protection and production restriction policy of the Paralympic Games and the two sessions this week, the production of coking units in some refineries has been reduced. Due to the impact of rising crude oil prices, the refining cost of refineries has increased. Some subsequent coking units in some refineries have plans to reduce production or even shut down, and the supply of petroleum coke market is expected to continue to decrease in the short term; The coke price of Yumen petrochemical in Northwest China continued to rise this week, and the oil coke price of refineries in Xinjiang increased by 200 yuan / ton this week. The amount of resources in Xinjiang is approaching. At the same time, due to the continuous high price, the inventory of most downstream enterprises is at a medium low level. Lanzhou Petrochemical coking plant is scheduled to start on March 11 and is expected to coke normally next Monday. 2、 In terms of downstream demand, the price of electrolytic aluminum began to decline sharply this week, and the profit space of aluminum enterprises contracted; Some downstream carbon enterprises were forced to shut down again due to environmental protection and production restriction, and the short-term demand decreased. However, it is expected to resume construction from the 11th, adding that the storage of downstream raw material petroleum coke is still not high. Therefore, in order to ensure the normal production in the plant, they have to accept high price petroleum coke to benefit the coke price. 3、 In terms of ports, Rizhao Port arrived successively this week and has not been completely unloaded. The northern port of the port has good shipment, and some ports along the river have been rectified and will not unload for the time being. The price of coke in the port market is generally rising. The price of medium sulfur and low sulfur sponge coke rises with the price of domestic coke, and the price of high sulfur sponge coke rises slightly. Port pellet coke pushed up slightly. Saudi Arabia, the United States and other high sulfur fuel coke outer disk rose sharply, the price is upside down, the Chinese market is difficult to receive goods, and the subsequent import volume is expected to decline. The bidding price of Formosa Plastics Petrochemical rose sharply. Low sulfur coke Market: the price of petroleum coke in refineries such as Jilin Petrochemical and Liaohe Petrochemical in Northeast China has increased. The shipment of medium and low sulfur petroleum coke in Northeast China is good, the market procurement of negative electrode materials is active, the demand for carburizer in the downstream of Liaohe Petrochemical has decreased, and the demand for negative electrode has increased.
Supply: as of March 10, there were 12 conventional maintenance of coking units. No new coking units were opened or shut down this week. Some refineries reduced production due to the impact of high crude oil prices and the environmental protection production restriction policies of the two sessions and the Paralympic Games. As of Thursday, the national daily output of petroleum coke was 73510 tons, and the coking operation rate was 58.97%, a decrease of 0.69% compared with last week.
Demand: during the two sessions and Paralympic Games this week, some downstream carbon enterprises were forced to shut down due to environmental protection and production restriction, and were in the heat preservation oven. However, due to the low inventory of raw petroleum coke, the enterprise's enthusiasm for receiving goods is still high, and the demand for petroleum coke is good; The market performance of negative electrode materials is good, and the market demand for electrodes and carburizing agents is stable. On the whole, the downstream market supports the petroleum coke market well.
In terms of crude oil production and storage, due to the superposition of crude oil refineries and environmental protection, the output of some refineries increased significantly this week, and the inventory of some refineries was further reduced.