According to the data of SunSirs, the price of petroleum coke products of domestic refineries has risen slightly. Now the average price of Shandong market at the beginning of last week was about 1,138.5 RMB/ ton, while the average price of Shandong market at the end of last week was 1,140 RMB/ ton, up 0.13%. The coking coal commodity index on June 27 was 100.12, flat with the previous day, down 17.62% from 121.53 (2019-03-12), the highest point in the cycle, and up 122.93% from 44.91, the lowest point on January 28, 2016. (Note: cycle refers to 2012-09-01 to now)

Analysis of Influencing Factors

Upstream: on June 26, the U.S. WTI crude oil futures market price fell, and the settlement price of main contracts was $38.49/ barrel, down $0.23. The price of Brent crude oil futures market fell, with the settlement price of the main contract down $0.19, to $40.93. The fall of international oil price is mainly due to the serious trend of covid-19, which leads to the restart of market fuel demand worries.

Downstream: last week, the glass grid rose steadily. According to the monitoring of SunSirs, the average price of the glass in the beginning of last week was 18.42 RMB/ m2, the average price in the weekend was 18.6 RMB/ m2, and the price in the week is increased by 0.98%. Most of the manufacturers were in the trend of price increase and promotion, and the price fixing operation. At present, the inventory of enterprises is further reduced, and the inventory pressure of production enterprises is reduced, which plays a significant role in supporting the market price. At present, the carbon market is stable, the terminal industry is stable, and the economic environment is expected to be better.

Industry: according to the price monitoring of SunSirs, in the 25th week of 2020 (6.22-6.26), there were 6 kinds of commodities in the list of commodity prices rising and falling, among which the top three commodities were asphalt (1.62%), methanol (1.39%) and WTI crude oil (1.36%). There were four kinds of commodities that declined on a month on month basis, and the top three products were LNG (-0.81%), diesel (-0.60%) and MTBE (-0.42%). Last week's average was 0.33%.

Market Forecast

According to analysts of petroleum coke of SunSirs, the price of petroleum coke in the local refining market kept a slight upward trend due to the tight supply of resources. Last week, the trading atmosphere in the forging and burning market was good, and the downstream purchasing heat remained unchanged. The three major groups and their subordinate refineries are mainly on a positive trend, and there are many manufacturers for next overhaul. It is comprehensively expected that there will be a small increase in the petroleum coke market in the later stage.

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