1、 Price data

According to the data in the bulk list of business agency, the price of petroleum coke from local refiners continued to decline this week. On June 26, the average price in Shandong market was 4595.75 yuan / ton, down 5.65% from 4871.00 yuan / ton on June 20.

On June 26, the commodity index of petroleum coke was 357.45, unchanged from yesterday, down 12.54% from the highest point 408.70 in the cycle (2022-05-11), and up 434.38% from the lowest point 66.89 on March 28, 2016. (Note: the period refers to 2012-09-30 to now)

2、 Analysis of influencing factors

This week, the price of petroleum coke in refineries continued to fall. Refineries cut prices and shipped goods. Downstream enterprises mainly purchased according to their needs, and their purchasing enthusiasm was average.

Upstream: the international crude oil price fell, the market returned to fundamentals, and the crude oil supply price was under tight support. However, affected by the expectation of interest rate hike by many central banks across the country, the market was worried about the economic recession, and the oil price was still fluctuating in the range. The US inflation in May exceeded expectations. The CPI soared to 8.6% year-on-year. The US Federal Reserve’s interest rate hike of 75 basis points also set a record. The fear of further increasing the risk of global economic recession, coupled with the uncertainty of the epidemic, has led to major changes in market expectations. The dollar rose again, risky assets were sold off again, and the stock market, bulk commodities and other fields fell on a large scale. Crude oil bears the brunt. It is already at a relatively high level in history. Under the condition that the tight supply situation has not changed, the panic has dealt a heavy blow to the oil price.

Downstream: the price of calcined coke was basically stable this week; The market price of metallic silicon continues to rise; The price of downstream electrolytic aluminum continued to decline. As of June 26, the price was 19370.00 yuan / ton.

Petroleum coke analysts of business agency believe that: international crude oil fell this week, and petroleum coke cost support is limited; The petroleum coke of local refining enterprises is generally shipped, and the downstream is mainly purchased on demand. The refinery discharges inventory and ships at a reduced price. It is expected that the price of locally refined petroleum coke may decline slightly in the near future.