In December 2023, the petroleum coke market witnessed dynamic shifts, influencing its price trend. Various factors, including global economic conditions, geopolitical developments, and energy demand fluctuations, played pivotal roles in shaping the trajectory of petroleum coke prices. As industries navigate through a complex landscape, understanding these trends becomes imperative for stakeholders. Analyzing the nuances of the petroleum coke market in December 2023 provides valuable insights into the broader economic and environmental dynamics at play.
Market Overview
Petroleum coke market performs weakly in the whole December. From the beginning to ending of December, price trend tends toward stable and fluctuation is less.
Concretely speaking:
Petroleum coke traded moderately at the beginning of December, low sulphur petroleum coke price downed again in refinery, it caused waiting mentality is stronger than past months for downstream procurement. While, fortunately, carbon industry enterprises with high purchasing enthusiasm had demand for petcoke to replenish stock at the beginning of December. Thus, some price for petcoke that in low level increased slightly, vice versa. Nevertheless, average price for petroleum coke still downs to 267 USD/MT.
In the middle of December, situation for price is similar to the beginning of Dec. 2023, that is price that stayed in high level decreased. Price for some high sulphur petroleum coke ( S is about 6%) hit the bottom and was about to turn upward. Meanwhile, it is noted that fighting and strife between Israel and Palestine persists, houthi forces in Yemen attacks all ships that want to go through red sea and gulf of Aden with no difference whether it is supply ship or not, in order to sever supplement from outside for Israel. Houthi’s behaviour causes plenty of merchant ships stay in red sea and gulf of Aden. And they have to change channel go through cape town. It led to longer date of delivery and more expensive cost. Therefore, it is costly to export cargo to Europe. Average price downs continuously.
Fig. 1 Tendency chart of petroleum coke price during December 2023
Market Outlook Forecast
In conclusion, downstream enterprises purchase petroleum coke prudently in whole December, most of them purchase petcoke according to their orders or demands. We forecast price trend for petroleum coke fluctuates slightly in January 2024 and fluctuation is less than 14 USD/MT.
