This week (November 26-December 02, the same below), the domestic petcoke market is generally trading, and refinery coke prices have a wide correction. PetroChina’s Northeast Petroleum Refinery oil market prices remained stable, and the Northwest Petroleum Coke market of PetroChina Refineries was under pressure. Coke prices continued to fall. CNOOC Refinery coke prices generally fell. Significantly lower.
1. Analysis on the price of domestic main petroleum coke market
PetroChina: The market price of low-sulfur coke in Northeast China remained stable this week, with a price range of 4200-5600 yuan/ton. Market trading is stable. High-quality 1# petroleum coke is priced at 5500-5600 yuan/ton, and ordinary-quality 1# petroleum coke is 4200-4600 yuan/ton. Relatively limited supply of low-sulfur indicators and no pressure on inventories. Dagang in North China has stabilized prices at RMB 4,000/ton this week. After the price correction, the refinery’s shipments were acceptable, and they were actively arranging shipments, but the market still pervaded the market with sluggish trading sentiment. Trading in the northwestern region was normal, shipments from refineries outside Xinjiang slowed down, and coke prices at refineries were lowered by RMB 80-100/ton. Refinery transactions in Xinjiang are stable, and individual coke prices are on the rise.
CNOOC: The price of coke has generally fallen by RMB 100-200/ton this cycle, and downstream on-demand purchases are the main focus, and refineries are actively arranging shipments. The latest price of Taizhou Petrochemical in East China has been adjusted again by RMB 200/ton. Zhoushan Petrochemical is bidding for export, and its daily output has increased to 1,500 tons. The shipment slowed down and the price of coke fell by 200 yuan/ton. Huizhou Petrochemical started operations steadily, and coke prices followed a decline. This week, the price of CNOOC’s asphalt petroleum coke has dropped by RMB 100/ton, but downstream customers are generally motivated to pick up the goods, and shipments from refineries have been slow.
Sinopec: The start of Sinopec’s refinery continued to increase this cycle, and the price of medium and high-sulfur coke fell broadly. High-sulfur coke was mainly shipped in East China and South China, and the downstream enthusiasm for receiving goods was not good. Petroleum coke prices were adjusted to the market. Guangzhou Petrochemical switched to 3C petroleum coke, and the refinery carried out export sales at the new price. Petroleum coke is mainly used by Guangzhou Petrochemical and Maoming Petrochemical. The shipments of Sino-sulfur petroleum coke along the Yangtze River are generally normal, and the price of coke at refineries has fallen back by 300-350 yuan/ton. In the northwest region, Tahe Petrochemical demand-side procurement slowed down, and the demand-side enthusiasm for stocking weakened, and the coke price was broadly lowered by 200 yuan/ton. The downstream support of high-sulfur coke in North China is insufficient, and the transaction is not good. During the cycle, the coke price is reduced by 120 yuan/ton. The price of sulphur coke has been lowered, shipments from refineries are under pressure, and customers purchase on-demand. Petroleum coke prices in Shandong region have fallen sharply in this cycle. The current refinery shipment situation has improved significantly. Local refined petroleum coke prices have temporarily stabilized, which will provide certain support to Sinopec’s petroleum coke prices.
2. Market price analysis of domestic refined petroleum coke
Shandong area: Petroleum coke in Shandong has gradually stabilized this cycle. High-sulfur coke has even experienced a slight correction to push up by 50-200 yuan/ton. The decline of medium and low-sulfur coke has significantly narrowed, and some refineries have fallen by 50-350 yuan/ton. Ton. At present, high-sulfur coke is well traded and refinery inventories are low. Traders are actively entering the market to boost the demand for high-sulfur coke. At the same time, because imported coke and main refinery coke lose their price advantage, some petroleum coke participants have moved to the local coking market. In addition, Jincheng’s set of 2 million tons of delayed coking plant was shut down, which together created price support for high-sulfur coke from local refinery; the supply of low- and medium-sulfur coke was still sufficient, and most end-users purchased on-demand, some of which were low- and medium-sulfur coke. There is still a slight downward adjustment in coke. On the other hand, individual refineries have adjusted their indicators. Petroleum coke with a sulfur content of about 1% has increased, and its price has fallen sharply. This week’s Haike Ruilin products are adjusted to a sulfur content of about 1.1%, and Youtai’s product indicators are adjusted to a sulfur content of about 1.4%%. Jincheng has only one set of 600,000 tons/year delayed coking unit to produce 4A coke, and Hualian produces 3B. About 500 vanadium products, more than 500 3C vanadium products are combined.
Northeast and North China: The high-sulfur coke market in Northeast China is generally trading, the refinery shipments are under pressure, and the price is lowered broadly. After the price correction of Sinosulfur Coking Plant, shipments from the refinery were acceptable, and prices remained stable. The index of Xinhai Petrochemical in North China was changed to 4A. Due to factors such as Tianjin and other calcined coke companies’ production reduction and suspension, the downstream support was insufficient, and the refinery price was lowered within a narrow range.
East China and Central China: Xinhai Petrochemical’s petroleum coke in East China is generally shipped, and downstream companies purchase on demand, and the price of refinery coke has fallen by 100 yuan/ton. Zhejiang Petrochemical’s petroleum coke has been started stably, and bidding is temporarily not available for self-use. Jinao Technology’s shipments slowed down, and the refinery coke price dropped again by RMB 2,100/ton.
3. Petroleum coke market forecast
Main business forecast: This week, the main low-sulfur coke market price will remain stable, the trading atmosphere is stable, the high-quality 1# oil coke market price will be firm, the demand for lithium battery negative electrode will be stable, and the supply will be limited. It is more likely to maintain stability in the short-term. The price of coke in the mid-to-high-sulfur market has fallen in response to the market, and refineries are actively shipping products for export. Under local government control policies, the start of carbon companies has declined significantly, and traders and terminals are cautious in entering the market. The pricing of pre-baked anodes fell in December, and the aluminum carbon market has no obvious positive support for the time being. It is expected that the petroleum coke market will be mainly reorganized and transitioned in the next cycle, and coke prices in some refineries may still fall.
Local refinery forecast: In terms of local refinery, high-sulfur coke in the local refinery is gradually entering the consolidation market, and low-sulfur coke has experienced a significant decline. Some cities in Shandong have introduced environmental protection policies and production restrictions. Downstream procurement is on demand, and a few refineries are tired. Due to the stockpile phenomenon, the price of anodes at the end of the month may be lowered further to be negative for petroleum coke. It is expected that the petroleum coke market will continue to decline.
Post time: Dec-17-2021