ICC News: Petroleum coke market performed steadily on the whole. Early this month, A part of Sinopec refineries drew quite some attention for parameter issues, while the market of PetroChina and CNOOC maintained in relative stability. On the supply side, product oil showed poor performance, and petroleum coke was in relatively tight supply. On the demand side, continuous price rise in electrolytic aluminium has help to shore up petroleum coke market. In the ten middle days of June, the market maintained consolidation, with changes in local refinery market and Sinopec's high-sulphur petroleum coke being center of attention in the market. Sinopec high-sulphur petroleum coke market recorded small price pickup, while PetroChina and CNOOC market remained in relatively stability. Product oil market performance is unlikely to see major improvement, and the supply of petroleum coke remained in relatively tight situation. Downstream electrolytic aluminium prices plummeted, which once again took a toll on carbon enterprises' confidence. In the last ten days of June, the release of settlement price for PetroChina's 1# petroleum coke has become the center of attention in the market. Now Daqing Petrochemical has revealed petroleum coke settlement price for June on which 100 yuan/mt of discount was offered overall, and the price may stay on into July. Sinopec and CNOOC market maintained stability overall and didn't see much inventory pressure for the time being.
On the downstream market front, calcined petroleum coke market maintained stabilization overall embedded with small volatility. Low-sulphur calcined petroleum coke market remained sluggish and some enterprises saw price catch up on the downswing. Both Daqing, and Fushun Petrochemicals offered 100 yuan/mt discount on the settlement price. As the cost of low-sulphur calcined petroleum coke is likely to continue to go downward, the prices will be hard to stand stabilized. Amid protracted waning demand, operating rate in low-sulphur calcined petroleum coke sector continued to drop. It seems the market won't be able to shake off the sluggishness later. Prices of middle- and high-sulphur calcined petroleum coke stood firm, only with several incidences of price fluctuations. As impacted by recent cut in both output and price in electrolytic aluminium, medium- and high-sulphur calcined petroleum coke enterprises, especially latter ones, have also started to cut output. To date, prevailing prices for low-sulphur calcined petroleum coke on the low end in northeast region are 2,500-3,075 yuan/mt; medium-sulphur calcined petroleum coke are 1,800-2,400 yuan/mt in north China, 1,700-2,200 yuan/mt in Shandong; high-sulphur calcined petroleum coke are 1,600-1,800 yuan/mt .
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