According to the bulk list data of SunSirs, the price of petroleum coke from local refiners stopped falling and rebounded last week, and the price rose sharply. The average price in Shandong market on January 8 was 3,014.00 RMB/ton, up 12.09% from the price of 2,689.00 RMB/ton on January 2.

The petroleum coke commodity index on January 8 was 234.42, which was the same as yesterday, down 42.64% from the cycle's highest point of 408.70 (2022-05-11), and up 250.46% from the lowest point of 66.89 on March 28, 2016. (Note: the cycle refers to September 30, 2012 to now)

The price of petroleum coke in refineries rose sharply last week, and local refineries had low inventories, good shipments and positive transactions.

Upstream: The international crude oil price is down, the economic recession is expected to remain unchanged, and the Federal Reserve's tightening policy is likely to continue. The continued tightening of the Federal Reserve's monetary policy increases the risk that the United States and major developed economies in the world will fall into recession, which will then depress fuel demand, and the oil price will be under pressure. The winter snowstorm weather in the United States is still fermenting, leading to the frustration of the local aviation industry. The cancellation of large-scale flights has caused serious damage to the aviation coal market, but also has a negative impact on self-driving travel, and the demand for gasoline has been depressed; In addition, the snowstorms in many places reduced the crude oil processing capacity of North America, resulting in the accumulation of crude oil, and then suppressed the oil price. In addition, the risk of the global economy falling into recession in 2023 is increasing, and the inflation level of the western developed economies is high, and it is difficult to tighten monetary policy or exit in the short term, which will harm the global economy, and the negative impact on the decline of crude oil price.

Downstream: the price of calcined coke fell last week; The market price of silicon metal continued to decline; The downstream electrolytic aluminum price went down. As of January 8, the price was 17,706.67 RMB/ton; At present, downstream carbon enterprises prepare goods before festivals and purchase actively.

According to the petroleum coke analyst of Business News, the international crude oil fell last week, and the cost support of petroleum coke was limited; At present, the domestic petroleum coke storage is high, but the local refining enterprises have low inventory last week, and the downstream enterprises have prepared goods before the festival. The refinery has delivered goods actively, and the transaction is good. Downstream procurement is basically completed last week, and downstream demand is limited. It is expected that the refining coke in the near future will be dominated by weak consolidation in China.

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