June's petroleum coke market continues to stumble: Monthly review

ICC News: Domestic petroleum coke market has been on a downward trend broadly in June and it didn't stop the decline and stabilize until the end of the month. Global crude price has been volatilizing, NDRC's price adjustment plan is on hold for the time being, and the improvement in the operation ratio of coking facilities mainly comes from the operation of new projects.
Early this month, the market of major players began to make downward adjustment amid the continued drop on the market of local refineries in the previous time.
Despite the rising price of global crude oil, there wasn't much improvement in the operating ratio of coking facilities as its only support is from retails since the wholesale quantity of gasoline and diesel oil is hard to grow quickly for the moment.
In Mid-June, Sinopec also joined the list of enterprises having price slashed, which includes as many as 15 enterprises. PetroChina and CNOOC maintained steady in wait-and-see.
At the end of the month, on the surface, the main tone of overall petroleum coke market was stable. Although local refineries felt strongly for their preferred prices, some Sinopec plants continued to trim price while PetroChina and CNOOC remained steady.
On the low-sulphur petroleum coke side, the market was mainly stable, although sales of 1#A petroleum coke was still dull.
On the medium-sulphur petroleum coke market, the pace of decline at local refineries slowed; price adjustment from Sinopec was closely watched; PetroChina and CNOOC didn't make any price adjustment.
On the high-sulphur petroleum coke side, Sinopec's sales were stable, which are mostly consumed by itself and they kept inventory at a reasonable level.
As of June 26, prevailing price of 1#A is 1400-1600 yuan/mt; 1#B is 1150-1350 yuan/mt; 2#A is 1260-1320 yuan/mt  from Sinopec and 1100-1220 yuan/mt from local refineries; 2#B  is 1170-1230 yuan/mt from Sinopec and 900-1060 yuan/mt from local refineries；3# is 1040-1060 yuan/mt from Sinopec and 710-850 yuan/mt from local refineries; 4#-5# is 790-1000 yuan/mt from Sinopec.