According to the commodity analysis system of Shengyi Society, the market for locally refined petroleum coke continued to rise in November. The mainstream average price of petroleum coke products from major domestic refineries was 1583.25 yuan/ton on December 5th and 1478.50 yuan/ton on November 1st, with a monthly increase of 7.08%.
| Gamma-PGA (gamma polyglutamic acid) |
Cost aspect: The international oil price market in November was mainly volatile, with a significant increase in crude oil market prices at the beginning of the month, and a gradual decline in crude oil prices in the later period. Overall, the crude oil market situation did not change much. On the one hand, the unstable geopolitical situation in the Middle East remains one of the important factors affecting the crude oil market. On the other hand, crude oil supply remains tight, and OPEC’s production reduction plan of 2.2 million barrels per day has been extended until the end of December, indicating continued supply constraints. However, the outlook for crude oil demand is not optimistic, which is suppressing the crude oil market price. Overall, the crude oil market price is mainly fluctuating widely.
Supply side: The price of locally refined petroleum coke continued to rise in November, with good transactions; The supply of low sulfur coke is tight, the inventory of medium and high sulfur coke is low, and the shipment is good. The downstream negative electrode material and aluminum carbon market are actively receiving goods. In addition, the low sulfur sponge coke market resources at the port are tight in November, and the market shipment is not under pressure.
On the demand side: Currently, the overall trading atmosphere in the domestic silicon metal market is relatively quiet. As the overall operating expectations continue to decline, the pressure on the silicon metal supply side is controllable. Although the transmission performance between supply and demand is still average, it will be able to maintain weak stability. Currently, the main refineries have stopped supplying petroleum coke to the fuel and silicon industries, pushing up the price of imported low sulfur petroleum coke.
The market for medium sulfur calcined coke rose in November, with the price of petroleum coke, a raw material for medium high sulfur calcined coke, continuing to rise. Downstream negative electrode enterprises still have decent demand, supporting the calcined coke market.
Due to the implementation of the aluminum export tax rebate policy on December 1st, the frequency of overseas buyers’ inquiries and the pace of rushing for exports have continued to accelerate recently. In late November, the downstream demand for aluminum ingots was still strong, and the off-season was not weak. In December, with the slowdown of downstream export pace, there may be negative feedback on the aluminum ingot market, and the expectation of a off-season may come. Aluminum carbon enterprises mainly purchase petroleum coke for essential needs.
Future forecast: Currently, the downstream negative electrode materials and aluminum carbon markets in the petroleum coke market are actively receiving orders; The main refinery has stopped supplying fuel and silicon industries; The supply of imported low sulfur sponge coke is tight, and refineries continue to raise the price of petroleum coke. It is expected that the price of petroleum coke will continue to rise slightly in the near future.
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