According to the commodity analysis system of SunSirs, the recent market for refined petroleum coke has continued to decline. As of February 24th, the price of refined petroleum coke in the Shandong market was 2,437.50 RMB/ton, a decrease of 9.30% from 2,687.50 RMB/ton on February 17th.

Cost aspect: Recently, the crude oil price market has fluctuated. On the one hand, the United States has imposed tariffs and Trump has requested OPEC to increase production to lower oil prices. In addition, US crude oil inventories remain high, and the market is still concerned about crude oil demand, which has suppressed crude oil prices; On the other hand, the geopolitical situation between Russia and Ukraine has eased, and crude oil market prices remain low.

Supply side: Recently, the transaction volume of refined petroleum coke has been average. In the first half of February, the price of petroleum coke rose sharply, and downstream costs were under pressure. Purchasing was cautious, and refinery petroleum coke shipments were limited. In addition, some refineries adjusted their petroleum coke indicators, resulting in a continuous decline in petroleum coke prices. Recently, imported petroleum coke has been gradually entering the port for storage. Due to the downward adjustment of local coking prices, the shipment of imported petroleum coke has been under pressure, and some coke prices have fallen. However, imported low sulfur sponge coke resources are tight, and prices are relatively firm.

On the demand side, the national industrial silicon production rate in February was 33.52%. The operating rate of industrial silicon is relatively low, and the operating rates of downstream polycrystalline silicon, organic silicon, and aluminum alloy plants are also at a low level. The overall monthly supply and demand are basically balanced, and downstream procurement is actively limited. At present, the trading atmosphere in the metal silicon market is relatively light. Metal silicon and upstream and downstream factories are gradually resuming production, and the transmission between supply and demand is gradually recovering. The demand for petroleum coke market in the silicon industry still exists.

At present, the electrolytic aluminum market is fluctuating and rising, and the country continues to implement consumer stimulus policies, coupled with external aluminum prices driving the domestic market. At present, aluminum carbon enterprises mainly purchase petroleum coke for essential needs.

Recently, the overall market for calcined coke has remained stable, mainly due to the decline in petroleum coke prices and limited downstream demand near the end of the month. The weak consolidation of medium sulfur calcined coke is the main factor.

Currently, the shipment of petroleum coke from local refineries is active, while downstream enterprises have limited procurement and mainly purchase according to demand. There is a strong wait-and-see sentiment, and it is expected that the petroleum coke market will be mainly weakly consolidated in the near future.

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