This analysis focuses on the price trends of petroleum coke in the second quarter of 2024. By examining key market factors and industry developments, we aim to provide a clear and concise overview of the price movements during this period.
Analyze Petroleum Coke Market
Compared with the first quarter of 2024, price in the second quarter changed a lot.
The first quarter coincided with New Year’s Day and Spring Festival, in addition, downstream industries had a relative strong purchasing enthusiasm at that moment, thus, many downstream enterprises were frantically replenishing their inventories. It provided considerable support for petroleum coke prices, whatever it is low sulphur or other varieties. However, in the second quarter, it was another scene.
In the second quarter of 2024, petroleum coke market performed depressing and price gradually fall.
When it comes to depression of petroleum coke market, it specially reflected in supply and demand aspect. We take demand aspect as an example to expound. Regarding demand aspect, because most of enterprises have replenished their inventories in the first quarter, their purchasing enthusiasm was weak in the second quarter and they procured it according to orders. It resulted in a large amount of petroleum coke accumulated in refinery. And price for petroleum coke dropped. Frankly speaking, many factors affected the price for petroleum coke, including exchange rate. During the second quarter of 2024, the exchange rate between USD and CNY has risen amid volatility. Anyway, it affected the price more or less. As for other factors, we do not expatiate in this article.
Fig. 1 Average Price Trend
Figure 1 is a chart showing the average price trend in the second quarter. From this figure, we can see clearly that average price for petroleum coke has been dropped continuously except for the beginning of June. And the decrement in April is greater than that in May and June. It is obvious that the relatively stable month is May among these months. The overall decline was around 3.9% in the second quarter of 2024. Moreover, we predict that the price will continue falling in the next few months based on the intelligence we have at present. And it will be difficult to recover in the short term.
Conclusion
In conclusion, our analysis of petroleum coke prices in the second quarter of 2024 highlights the key influences and trends. These insights offer valuable information for industry stakeholders to better understand and respond to the market dynamics during this time.
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