The petroleum coke market is in abundant supply, and most coke prices are down
Analysis on influencing factors of petroleum coke market this week
Medium and high sulfur petroleum coke:
1、 In terms of Sinopec, the shipment of medium and high sulfur petroleum coke in North China is stable. Yanshan Petrochemical will ship according to 4 # B, Cangzhou Refinery will ship according to 3 # C and 4 # A petroleum coke, and Shijiazhuang Refinery will ship according to 4 # B. The shipment of high sulfur petroleum coke in South China is acceptable, and the coal market is in general. Maoming Petrochemical started to export in December, and Guangzhou Petrochemical and Beihai Refinery delivered petroleum coke according to 4 # A; After the price of medium sulfur petroleum coke in the region along the Yangtze River has been declining, the shipment is stable. Changling Refinery will ship the petroleum coke according to 3 # B, and Jiujiang Petrochemical and Wuhan Petrochemical will ship the petroleum coke according to 3 # B and 3 # C; High sulfur petroleum coke is well shipped in East China, and part of Zhenhai Refining and Chemical Petroleum Coke is exported. 2、 The price of petroleum coke of Dushanzi Petrochemical in Northwest China was reduced by 100 yuan/ton this week. Although the epidemic prevention policy has been gradually relaxed, the downstream enterprises are not enthusiastic about purchasing and the shipment has slowed down slightly. 3、 The petroleum coke of local refineries is under pressure. At present, the overall quality of locally refined petroleum coke is poor. The local refining market is dominated by medium and high sulfur petroleum coke with more than 3% sulfur. At present, the downstream aluminum carbon enterprises are still under financial pressure. They have a heavy wait-and-see attitude. They purchase on demand, which makes the price of locally refined petroleum coke go down. 4、 In the port market, there are still many imported petroleum coke arriving at the port, and the cost of imported coke is high, and some of the quotations are high. However, near the end of the year, some traders were eager to collect the payment, and the overall shipment of sponge coke market was blocked, the actual price was more upside down, and the delivery speed of each port slowed down.
In terms of low sulfur petroleum coke, the downward trend of the low sulfur petroleum coke market remained this week, the imported coke continued to arrive in Hong Kong, and the overall market supply was still abundant, but the terminal market turnover was average, the enthusiasm of downstream enterprises for replenishment was poor, the support for refinery coke price was limited, and the supply and demand of carbon for steel market played a game; The terminal sales volume of negative electrode materials has not been as expected recently, and the overall industry trend has weakened slightly. On the whole, there is still resistance to the price rise of low sulfur petroleum coke. In terms of market details this week, the prices of petroleum coke from Daqing, Fushun, Jinxi and Jinzhou Petrochemical in Northeast China have been running weakly and steadily this week, and continued to be sold at guaranteed prices; Jilin Petrochemical's petroleum coke will maintain stable transition this week; The latest bid price of Liaohe Petrochemical this week is 5340 yuan/ton; The latest bidding price of petroleum coke of Dagang Petrochemical in North China this week is 5420 yuan/ton, which is down month on month. The coking unit of CNOOC's refinery Taizhou Petrochemical Company has been shut down for maintenance since December 10, and is expected to be shut down for about half a month; The prices of petroleum coke of CNOOC Asphalt (Binzhou), Huizhou, and Zhoushan Petrochemical have all been lowered this week, and the inventory is at a medium low level.
The overall shipment of petroleum coke in the local refining market was average this week, and the overall coke price fell by 50-500 yuan/ton. Specific analysis shows that the supply of petroleum coke from local refineries is relatively abundant. This week, a set of coking unit was still started to produce coke, and the supply of petroleum coke from local refineries was further increased. At present, the stock of petroleum coke in local refineries is constantly rising, and some of them have risen to a high level, so they have to reduce the price for shipment; As the comprehensive refining profit of local refineries is good, in order to reduce costs, refineries mostly use crude oil with poor quality for production, and petroleum coke, as a by-product, is also affected in quality. At present, there is a large supply of medium and high sulfur common petroleum coke with more than 3% sulfur in local refineries; In addition, the downstream enterprises are still slow in collecting payment, and the enterprise capital pressure is still large. However, the port sponge coke warehouse has a long-term high level, and there are still many subsequent arrivals, which still have a great impact on the local refining petroleum coke market. The downstream enterprises are subject to the psychological effect of "buying up, not buying down", and have a heavy wait-and-see mood, mainly purchasing on demand. As of December 15, there have been 4 routine overhauls of the local coking unit. This week, the coking unit of Shengxing Chemical started to discharge coke. As ozf this Thursday, the daily output of petroleum coke of the local refinery was 38870 tons, and the operating rate of the local coking was 75.46%, an increase of 0.78% over last week. As of this Thursday, low sulfur coke (less than S1.5%) had a mainstream turnover of about 4300-4500 yuan/ton, while medium sulfur coke (S3.0%) had a mainstream turnover of 2850-3250 yuan/ton; High sulfur and high vanadium coke (about 5.5% sulfur content) was sold for 1570-1700 yuan/ton.