Petroleum coke market undergoes mild fluctuation in January: monthly review

ICC News: There wasn't much fluctuation on raw materials market in January, with only mild swings recorded on petroleum coke market. At the beginning of the month, petroleum coke market was gradually weakening; the number of local refineries cutting price was on the rise; the market consisting of major enterprises presented notable downward trend after some local downward adjustments.
In the middle of the month, overall petroleum coke performance was lukewarm. Most refineries have no intention to adjust price. Local refinery market still faces immense downside pressure. Meanwhile, major enterprise market doesn't maintain stable any more as price edges down.
At the end of the month, the downward trend on petroleum coke market went further, with local refineries leading the decline. Major enterprises offered preferences to large customers and market appeared to maintain temporarily stable, although the underlining trend remained was going down. Some refineries trimed the price according to product indexes and inventory levels.
On the low-sulphur petroleum coke front, 1#A petroleum coke market held steady. Shipment was ok. Jinxi Petrochemical made downward adjustment to 1#B price.
On the medium-sulphur petroleum coke market, demand coming from stock-up activities in the downstream was lukewarm. With impending bearish factors caused by increase in supply, it's likely local refineries will see further downswing, and major enterprises maintain steady for the time being.
On the high-sulphur petroleum coke side, price of high-sulphur petroleum coke will continue to edge down due to downtick on medium-sulphur petroleum coke market plus slip in quality of high-sulphur products over recent time.
As of Jan. 29, prevailing price of 1#A is 1,000-1,100 yuan/mt; 1#B is 1,030-1,100 yuan/mt; 2#A is 1,220 yuan/mt  at Sinopec and 920-1,120 yuan/mt at local refineries; 2#B  is 980-1,080 yuan/mt at Sinopec and 750-850 yuan/mt at local refineries；3# is 920-1,000 yuan/mt at Sinopec and 650-760 yuan/mt at local refineries; 4#-5# is prevailingly 560-780 yuan/mt at Sinopec.