ICC News: Petroleum coke market continued downward trend in June. Early this month, major price adjustments were mainly occurred in PetroChina's market. Price at Sinopec maintained tentatively stable after it revealed discount.
Refineries still make inventory control as priority. With wait-and-see sentiment running strong on the downstream side, the market continued weak pace.
The downstream started to restock after the Dragon Boat holiday, inventories at refineries began to drop.
In mid June, market of main domestic petroleum coke business was steady. PetroChina was stable at high levels. Sinopec saw shipment improved. Price adjustment mainly was seen on local refineries market.
Late June, overall petroleum coke market appeared stable, yet actual trading was still flat.
On the low-sulphur petroleum coke side, Daqing Petrochemical kept up with price hike after operation resumed. On the medium-sulphur petroleum coke side, price from PetroChina dropped to the bottom, Sinopec is likely to follow the trend, and local refineries continued to lower prices due to tough shipment.
On the high-sulphur petroleum coke side, Sinopec market maintain tentatively steady through self-supply and export.
As of late June, prices for petroleum coke of varying specifications were as follows:1#A：1280-1400 yuan/mt；1#B 1200-1300 yuan/mt；2#A：1180 yuan/mt at Sinopec, 1060-1160 yuan/mt at low refineries； 2#B：1080-1150 yuan/mt at Sinopec, 1000-1050 yuan/mt at low refineries； 3#：980-1030 yuan/mt at Sinopec and 850-950 yuan/mt at local refineries；4#-5#：840-910 yuan/mt in mainstream and 720-730 yuan/mt on the low end.
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