According to the Commodity Analysis System of SunSirs, the price of refined petroleum coke in Shandong market increased last week. As of May 20th, the price of refined petroleum coke in Shandong market was 1,560.00 RMB/ton, an increase of 1.96% from May 13th at 1,530.00 RMB/ton.

Cost side: The crude oil market is fluctuating and rising. On the one hand, the US economic data strengthens the expectation of interest rate cuts, and the improvement of US China economic data boosts investors' hope for increased demand; On the other hand, the decline in US crude oil inventories exceeded expectations; In addition, Russia's oil infrastructure has been hit, and the United States has been hit by a strong storm, resulting in production interruptions.

Supply side: Recently, the coking units of Fuhai United and Zhenghe Petrochemical have been shut down for maintenance. Currently, the petroleum coke storage in the refinery is at a low level, which is beneficial to the petroleum coke market; The sulfur content of petroleum coke in some refineries has changed, and the price of petroleum coke fluctuates with the increase of sulfur content; Recently, the demand for imported petroleum coke has been average, and traders mainly execute contracts, resulting in average transactions.

On the demand side: As of May 16th, China has started production of 335 silicon metal furnaces, with an overall start-up rate of 44.85% and an increase of 11 furnaces compared to the previous week. Last week, the number of industrial silicon furnaces opened increased, with more manufacturers in the northwest resuming production. At the same time, manufacturers in Sichuan continued to resume production. As the flood season approaches, the number of furnaces opened in the southwest will further increase, and the overall supply situation will increase. At present, the demand for purchasing petroleum coke from metallic silicon is still acceptable, supporting the petroleum coke market.

Currently, the inventory of domestic refined petroleum coke market is low, but downstream demand is limited, with multi-dimensional demand being the main focus. The current price changes of refined petroleum coke mainly follow the adjustment of refinery sulfur indicators. It is expected that the local petroleum coke market will remain stable and consolidate in the near future, with prices mostly following changes in refinery petroleum coke shipment indicators.

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