The market for locally refined petroleum coke continued to rise in mid July

According to the commodity analysis system of Shengyi Society, the market for locally refined petroleum coke continued to rise in mid July. As of July 21, the price of locally refined petroleum coke in the Shandong market was 2330.00 yuan/ton, an increase of 2.19% from 2280.00 yuan/ton on July 11.
The crude oil market has been fluctuating recently. The crude oil market is affected by both bullish and bearish factors. On the one hand, OPEC+has released its annual world oil outlook and lowered its energy demand expectations, putting pressure on oil prices. On the other hand, the geopolitical situation in the Middle East has led to increased sanctions against Russia by the United States, and the United States will impose a 30% tariff on most imported goods from the European Union and Mexico from August 1st, causing fluctuations in the crude oil market.
In mid July, the shipment of petroleum coke from local refineries was still acceptable, and downstream demand for carbon for aluminum remained stable. The stocking operation of negative electrode materials was active, and coupled with low inventory of petroleum coke in some refineries, it was favorable for the petroleum coke market, resulting in an overall increase in petroleum coke prices. Recently, the trading of petroleum coke at ports has been average. In the early stage, petroleum coke arriving at the port was gradually stored, and the main focus was on destocking at the port. Downstream enterprises maintained their essential procurement.
Recently, the market for calcined coke has remained stable, with an overall increase in the cost of petroleum coke. However, the price of medium and high sulfur calcined coke has been affected by negative demand, and most production enterprises have remained stable.
Market forecast: Currently, the petroleum coke market is trading well, with downstream demand purchasing supporting the petroleum coke market. Refinery inventories are not under pressure, and it is expected that petroleum coke will steadily rise in the near future.