According to the Commodity Analysis System of SunSirs, the price of locally refined petroleum coke has been continuously declining recently. As of May 28th, the price of locally refined petroleum coke in the Shandong market was 1,502.75 RMB/ton, a decrease of 3.67% from May 20th at 1,560.00 RMB/ton.

Cost side: The overall crude oil market is declining, on the one hand, market concerns about the economic and demand prospects have intensified, and the international oil price trend is declining. On the other hand, a report released by the US Energy Information Agency (EIA) on Wednesday showed that US crude oil and distillate inventories increased last week, with US crude oil inventories increasing by 1.8 million barrels to 458.8 million barrels.

Supply side: As the end of the month approaches, downstream procurement intentions are average, and local refineries are actively reducing prices to ship petroleum coke, but market trading is limited. Recently, imported petroleum coke has continued to arrive at ports, and the speed of port dredging has been average. The domestic supply of petroleum coke has increased, and the overall support for the petroleum coke market is weak.

On the demand side: As of May 23rd, there were 345 silicon metal furnaces operating in China, with an overall start-up rate of 46.06% and an increase of 10 furnaces compared to the previous week. Last week, the number of industrial silicon furnaces opened increased, and manufacturers in Sichuan continued to resume production. There were also new resumption of production in Xinjiang. As the flood season approached, the overall supply situation increased. At present, the demand for purchasing petroleum coke from metallic silicon is still acceptable, supporting the petroleum coke market.

This week, the overall market for sulfur calcined coke remained stable. Currently, most enterprises are selling at a stable price, mainly executing preliminary orders, and downstream enterprises are mainly observing.

The recent aluminum price market has been mainly volatile, and the overall demand for carbon for aluminum is relatively good. The resumption of electrolytic aluminum production is underway, but the overall growth rate is limited. Coupled with sufficient self supply from some large factories, downstream aluminum carbon enterprises mainly purchase petroleum coke on demand.

At present, the monitoring level of petroleum coke prices is at a one-year low, a two-year low, and a three-year low. According to the Commodity Analysis System of SunSirs, the average price of petroleum coke in the past three years is 2,840.61 RMB/ton, with a median value of 3,366.13 RMB/ton, a minimum value of 1,477.50 RMB/ton, and a maximum value of 5,254.75 RMB/ton. The bottom price difference (lower than the lowest price difference in the past three years) is 25.25 RMB/ton, and the top price difference (lower than the highest price difference in the past three years) is -3,752 RMB/ton.

Towards the end of the month, local refineries are actively shipping petroleum coke. In addition, imported petroleum coke will continue to arrive at ports this week, and the speed of port dredging is average, resulting in an increase in domestic petroleum coke supply; However, downstream procurement at the end of the month is cautious, with most of the purchases being for immediate needs. It is expected that the weak consolidation of the local refined petroleum coke market will be the main trend in the near future.

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