Recently, the price of locally refined petroleum coke has slightly increased. As of October 28th, the price of locally refined petroleum coke in the Shandong market was 1478.50 yuan/ton, an increase of 0.34% from 1473.50 yuan/ton on October 21st.
| Gamma-PGA (gamma polyglutamic acid) |
Cost wise: Recently, the overall rise in crude oil prices has been positive for international oil prices due to the tense geopolitical situation in the Middle East. On the other hand, the supply of crude oil remains tight. The OPEC+2.2 million barrels per day production reduction before the end of November will still be effective, and some oil producing countries have stated that they will carry out compensatory production cuts. The supply shortage still exists, and the international crude oil price trend is rising. In addition, the local economy in Asia has improved, and the market’s panic on demand has eased, boosting the international oil market. Finally, the decrease in US crude oil inventories supported the oil market positively.
Supply side: Recently, downstream demand for refined petroleum coke has been stocking up to support the petroleum coke market. The price of petroleum coke is affected by indicators, and prices fluctuate. Recently, there has been limited availability of low sulfur petroleum coke in the port, with low inventory and increased market inquiries.
On the demand side: Currently, the supply of silicon enterprises in Inner Mongolia, Ningxia, Shaanxi, and Shandong regions is relatively stable, while Yunnan region mainly delivers early-stage orders, and the overall price on the supply side is relatively low and stable. At present, the demand for purchasing petroleum coke from metallic silicon is average, and its support for the petroleum coke market is limited.
Recently, the market for medium sulfur calcined coke has remained stable, with limited downstream demand. Currently, most companies are pre-saleing orders for next month, and downstream customers are mainly observing and waiting.
The daily production of Yunnan electrolytic aluminum enterprises is at a high level, and the upward space has narrowed. However, recently, Southern Power Grid announced that Yunnan electrolytic aluminum may lift power restrictions this winter and next spring, and downstream electrolytic aluminum in Yunnan is expected to not reduce production in the fourth quarter; Downstream multiple sectors have experienced a rebound in operating rates, with electrolytic aluminum and aluminum rod inventories both experiencing slight destocking.
Market forecast: Currently, downstream demand for petroleum coke in the refining industry is increasing, supporting the petroleum coke market. It is expected that the price of petroleum coke will be adjusted narrowly based on indicators and inventory in the near future.
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