In the first month of 2024, the petroleum coke market witnessed notable fluctuations in prices driven by shifts in supply and demand dynamics. Economic indicators and geopolitical factors played significant roles in shaping the pricing trends. This analysis aims to dissect the factors behind the price movements and provide insights into the potential trend for the upcoming monthes.
Petroleum Coke Market Overview
Frankly speaking, the whole petroleum coke market recovered consecutively in January 2024. The demand for petroleum coke rose somewhat than 2023. Including, part of reason is strong purchasing enthusiasm. Concretely speaking:
At the beginning of January 2024, downstream enterprises purchased a large amount of petcoke due to unceasing increased enquiry. It was around New Year’s holiday, price for petroleum coke climbed so rapidly that traders sold their goods actively. From average price of petroleum coke market, it went up about 8 USD/MT than the last year.
In the middle, the situation is similar to the first ten days of this month. Approaching the Spring Festival, downstream enterprise for carbon industry procured successively. What’s more, as the number of order increased, petroleum coke price stayed in high level and even rose continuously to 259 USD/MT.
In the end of this month, price for petcoke started to drop consecutively. As Spring Festival coming soon, every downstream enterprises have finished procurement successively, purchasing enthusiasm is weaker than the beginning. Most of them buy raw material according to their purchase order in their hands mainly. These factors led to this phenomenon together. Therefore, price downs slightly and reached 256 USD/MT approximately.
As figure 1 shown, we can see clearly that the whole trend for petcoke price during January 2024.
Fig. 1 Tendency chart of petroleum coke price during January 2024
Fig. 2 Forecast of petcoke price at the beginning of February 2024
Forecast The Price For Petroleum Coke
As new year of dragon goes by, we anticipate that supply for petroleum coke will be reduce unceasingly due to maintenance for many refineries. Besides, some of enterprises manufactured more expensively than previous, and purchasing enthusiasm is weak. These are the reasons that why we make this prediction.
In summary, according to our analysis above, petroleum coke price will be fluctuated slightly. Price for low sulphur ranged from 335 to 459 USD/MT; for medium will be lower than low sulphur and maximum price is about 153 USD/MT for high sulphur petroleum coke we forecast.
