In the first half of 2022, the price of downstream calcined and pre-baked anode is driven by the continuous increase of raw petroleum coke price, but from the second half of the year, the price trend of petroleum coke and downstream product gradually began to diverge…
Firstly, take the price of 3B petroleum coke in Shandong as an example. In the first five months of 2022, domestic petroleum coke supply has been in a tight state. The price of 3B petroleum coke rose from 3000 yuan/ton at the beginning of the year to over 5000 yuan/ton in mid-April, and this price basically lasted until the end of May. Later, as the domestic supply of petroleum coke increased, the price of petroleum coke began to ease, fluctuating in the range of 4,800-5,000 yuan/ton until the early part of October. Since late October, on the one hand, the domestic petroleum coke supply has remained high, combined with the impact of the epidemic on upstream and downstream transportation, the petroleum coke price has entered the running range of continuous decline.
Secondly, in the first half of the year, the price of calcined char increases along with the price of raw petroleum coke, and basically maintains a slow upward trend. In the second half of the year, although the price of raw material declines, the price of calcined char declines somewhat. However, in 2022, supported by the demand for negative grapittization, the demand for common calcined char will increase significantly, which will play a huge supporting role for the demand of the whole calcined char industry. In the third quarter, domestic calcined char resources were once in a shortage. Therefore, since September, the trend of calcined char price and petroleum coke price has shown a clear opposite trend. Until December, when the price of raw petroleum coke dropped by more than 1000 yuan/ton, the sharp decline in cost resulted in a slight decline in the price of calcined char. It can be seen that the supply and demand of domestic calcined charring industry is still in a tight state, and the price support is still strong.
Then, as a product priced on raw material prices, the price trend of pre-baked anode in the first three quarters is basically consistent with the price trend of raw petroleum coke. However, there are some differences between the price and the price of petroleum coke in the fourth quarter. The main reason is that the price of petroleum coke in domestic refining fluctuates frequently and the market sensitivity is high. The pricing mechanism of pre-baking anode includes the price of main petroleum coke as the monitoring sample. The price of pre-baking anode is relatively stable, which is supported by the lagging market price fluctuation of main petroleum coke price and the continuous rise of coal tar price. For the enterprises producing pre-baking anode, its profit has been expanded to some extent. In December, the impact of November raw petroleum coke prices fell, pre-baked anode prices slightly down.
Generally speaking, the domestic petroleum coke product is facing the situation of oversupply, the price is suppressed. However, the supply and demand of calcined char industry still show a tight balance, and the price is still supportive. Pre-baked anode as a raw material pricing products, although the current supply and demand are slightly rich, but the raw material market still has support prices have not fallen.
Post time: Dec-13-2022