Explore the October 2023 petroleum coke price analysis, a straightforward examination of market trends and factors influencing pricing. Gain insights into the dynamics that define the current landscape of petroleum coke prices in this concise overview.
Market Overview
From the whole October of 2023, we can see that overall petroleum coke market performs weakly with gradual decrement of petcoke price.
Concretely speaking:
1. 10.9-10.12
Due to national holiday in China, we do not analyze price. Except during national holiday, overall petroleum coke market traded moderately at other times of this week, downstream market is weak after holiday. And most of plants procures as they needed according to their orders. While, Israeli-Palestinian conflict broke out in 2023.10.7, it causes the problem that price of crude increasing and stays in high level. Until 10.12, average price of petroleum coke market is USD 301/MT;
2. 10.13-10.19
In this week, petroleum coke market is still weak and traded moderately. Lower increment of anode material order, less procurement of petroleum coke. Meanwhile, refinery plant sells their goods under the stress and they have to decrease petroleum coke price in order to sell more. Until 10.19, average price of overall petroleum coke market is USD 292/MT. Compared to the last week, price decreases USD 9/MT, declines 3%;
3. 10.20-10.26
This week, petroleum coke market differentiates. On one hand, price of high sulphur coke is lowest basically and downstream enterprise procures in the market gradually. It supports coke price. On the other hand, for refinery plant that produced low or medium sulphur coke, prospect is still bad. Low or medium sulphur coke are sold difficultly, downstream market is weak. Additionally, plenty of enterprises waiting mentality is strong as continuous decrement of coke price. Moreover, they purchases material according to the number of their orders. These causes average price down to USD 287/MT, downs 1.71%;
4. 10.27-11.2
From 10.27 to 11.2, overall market is still weak, decrement of order affects calcined petroleum coke (CPC) market, it is difficult for them to sell their calcined petroleum coke. A lot of corporations procure products according to their needs. What’s more, low, medium, high sulphur petcoke market is similar to the last week, that is low, medium sulphur petcoke price is decreasing continuously and high sulphur petroleum coke price still in low level. Average price of petcoke down to USD 279/MT.
Fig.1 shows average petroleum coke price trend of October 2023.
Fig. 1 Tendency chart of petroleum coke price during October 2023
Fig. 2 Forecast of petroleum coke price at the beginning of November 2023
Market Outlook Forecast
From supply side:
Perhaps more and more domestic refinery plants will manufacture at the beginning of November 2023. Supply of sponge coke importing market is enough.
From demand side:
According to statistics of October 2023, we forecast overall downstream requirements will stay weak, amount purchased of anode material will down sharply. For calcined petroleum coke, its price will decrease continuously. However, sales is still moderate. Low sulphur coke price will be affected by sluggish demand for graphite electrode. On the contrary, compared to market we mentioned above, we think that Si metal and SiC enterprises will have a relatively stable requirement for high sulphur coke.
In conclusion, overall market will have enough supply and demand for downstream is weak. It is limited for petroleum coke price to support. Thus, we anticipate that some part of petroleum coke price will be still decreased at the beginning of November 2023. The fluctuation is between 3~14 dollars per metric ton. Low sulphur coke (S is about 0.5%) price will be 328~465 dollars per MT, medium sulphur coke (S is less than 3%) minimum price is about USD 205/MT and high sulphur coke (S is about 5%) maximum price is USD 178/MT approximately. It is shown in Figure 2.
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