We dive into the November 2023 petroleum coke price trend, a focused analysis highlighting the key factors steering market dynamics. This concise overview offers insights into the prevailing influences and fluctuations shaping the pricing landscape of petroleum coke in the current month.
Market Overview
Retrospect the whole November 2023, petroleum coke market performs weakly continuous, rate of change for average price gets smaller gradually.
Concretely speaking:
1. 11.3-11.9
First week of November 2023, overall price doesn’t fluctuate drastically, it tends to stable gradually, some of petcoke with high price decreases step by step. During this week, there is an interesting phenomenon, that is different sulphur contents have different price trends. Prices for 4% S petcoke and 5% S petcoke differentiate, including, 4% S petroleum coke price had a slight recovery. On the contrary, 5% S petroleum coke price stayed in low level stably. Until 11.9, average price for petroleum coke market is about 279 USD/MT. Compared to the end of October 2023, it has a slight decrement.
2. 11.10-11.16
Due to downstream market performs weakly, for example, calcined petroleum coke market, prices for medium sulphur reduces persistently. Corporate losses are increasing. In order to deal with this situation, most of enterprises reduce production. At the same time, it affects low or medium sulphur petroleum coke price. In contrast, high sulphur petroleum coke has diverse destiny. Prices for high sulphur stop decreasing because of support for coal price. And price for some petcoke recovers slightly. These factors caused average price down to 273 USD/MT approximately. The value of petroleum coke declined by about 2.5%.
3. 11.17-11.23
From 11.17 to 11.23, overall petroleum coke market still kept weak and coke price dropped continuously. In recent time, the rest of petroleum coke and derived other related products are more in warehouse. From this point, we can see clearly that petroleum coke market had enough supply recently. Prospect of downstream market is still bad and support to price maintenance more weakly. Especially, PRC chairman Jinping Xi flied to America and visit US president Biden from 11.14 to 11.17. Two heads of state reached some agreements and consolidated relationship between China and United States. This visit more or less promotes the exchange rate between USD and CNY dropped steadily. Thus, price for petroleum coke market was similar to the last week.
4. 11.24-11.30
This week, petroleum coke market has a slight recovery with sales volume has been increased step by step. Including, price for petroleum coke that long-term decreased stopped to climb slightly. However, petcoke with expensive price continues reducing. Some petroleum coke price has reached the bottom by declining persistently in the early days. Therefore, downstream enterprises purchase raw materials to supplement their warehouse successively. And it makes petcoke price stable. At the same time, some expensive petcoke changed cheaper than a few weeks ago. In summary, average price for petroleum coke market is lower than the last week slightly, the value of petcoke declined by approximately 1.83%.
As Figure 1 shown, we can clearly see that the price trend is similar to the last month, while, decrement is smaller than the last month.
Fig. 1 Tendency chart of petroleum coke price during November 2023
Fig. 2 Forecast of petroleum coke price at the beginning of December 2023
Market Outlook Forecast
From supply side:
Most of domestic refinery plants are producing with full load at present. Maybe supplementary for petroleum coke produced by domestic refinery plants will be climbed.
From demand side:
Not only in anode material market, but also in graphite electrode market, overall purchasing enthusiasm is more weak. Overall market will be operated stably.
In conclusion, petroleum coke market will be traded moderately and have enough supply. Despite downstream have demand for petroleum coke, it is still unable to resist market recession. We forecast that trend for petroleum coke prices will be stable at the beginning of December 2023. And fluctuation will be smaller than 14 USD/MT. We forecast prices for low sulphur petroleum coke range from 302 to 446 USD/MT, maximum price for medium sulphur petroleum coke will be 281 USD/MT and minimum price for high sulphur petroleum coke will be 133 USD/MT. Figure 2 shows price trend we forecast.
If you have any inquiries or require further information about our Calcined Petroleum Coke and related products, please do not hesitate to contact us. We are here to assist you and provide the carbon solutions your business needs.
