According to the commodity analysis system of SunSirs, the market for locally refined petroleum coke has slightly increased recently. As of August 27th, the price of locally refined petroleum coke in the Shandong market was 1,459.00 RMB/ton, an increase of 0.52% from 1,451.50 RMB/ton on August 22nd.
In terms of cost: The rise in crude oil prices is due to the increased instability in the Middle East caused by the interruption of light crude oil supply from Libya. Additionally, last weekend, Hezbollah's attack on Israel once again heightened geopolitical risks, supporting the rise in crude oil prices; On the other hand, many officials, including Federal Reserve Powell, have released positive signals of interest rate cuts. Currently, the expectation of a rate cut in September has been basically confirmed, which will bring long-term benefits to oil prices. But the weakening of fundamentals after the peak consumption season may also limit the upward space for crude oil prices.
In terms of supply: Recently, the shipment of refined petroleum coke has been average, with mainstream coke prices temporarily stable and transitioning, and some coke prices rising narrowly. As the end of the month approaches, downstream financial pressure is high, and the enthusiasm of enterprises to receive goods is average. The procurement of petroleum coke is limited, and transactions are average. Recently, the petroleum coke market has resumed production, and imported petroleum coke is still arriving at ports. The speed of port inventory clearance is average, and the domestic petroleum coke market has sufficient supply.
In terms of demand: Due to the continuous downward trend of the previous market, although a small number of metal silicon factories have shut down, the overall operating rate on site is still high, and the overall supply of metal silicon is still loose. The overall pressure on the supply side is high, and the market's destocking performance is average. The support provided by the supply side for metal silicon is weak. At present, the demand for purchasing petroleum coke from metallic silicon is average, and the support for the petroleum coke market is average.
Currently, the overall trading in the petroleum coke market is average. As the end of the month approaches, downstream enterprises are cautious in their procurement and mainly focus on receiving goods on demand; In addition, imported petroleum coke has recently been concentrated in the port, and local refining enterprises have resumed production one after another. The supply of petroleum coke is sufficient, and it is expected that the market situation of local refining petroleum coke will be mainly consolidated in the near future.
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