Domestic petroleum coke market demand side

The main downstream consumption fields of China’s petroleum coke products are still concentrated in the prebaked anode, fuel, carburizing agent, silicon (including metal silicon and silicon carbide), and graphite electrode, of which the consumption of prebaked anode ranks first. In recent years, the production profits of the electrolytic aluminum market and silicon products have remained high, and the enthusiasm of downstream enterprises for procurement and production has become the main driving force to promote the growth of petroleum coke consumption.

At present, the downstream consumption fields of China’s petroleum coke are still prebaked anode, fuel, silicon, carburizing agent, graphite electrode, and negative electrode materials.

Throughout the year, the profit margins in the fields of electrolytic aluminum, metal silicon, and silicon carbide have reached a high level, and enterprises have high enthusiasm to start. However, as a high energy-consuming industry, the overall production is limited, and the demand for petroleum coke is still increasing, although the demand cannot be fully released.

In terms of fuel, under the background of coal shortage, refineries increase their own use and power plants increase their procurement, resulting in good overall demand; In addition, the glass factory has good profits, a high operating rate, and good demand for petroleum coke. The demand for cathode materials is good, which drives the output of carburizing agent. The demand for silicon electrodes is acceptable, but the demand for steel graphite electrodes is general.

The price of domestic low sulfur calcined coke showed a trend of rising first and then falling. The demand side support was stable, and the calcined coke price continued to rise. Supported by the price of raw materials, the price of calcined coke increased significantly, and the transaction price increased by 2850 yuan/ton in the first quarter. In the second half of the year, the electricity restriction and dual control policy affected the weakening of downstream demand, but the negative electrode material market was well supported, the price of high-quality low sulfur coke continued to rise, the price of low sulfur calcined coke rose, and the transaction price of calcined coke rose to the annual high in the fourth quarter.

The price of domestic medium and high sulfur petroleum coke basically showed a unilateral rise, the price of terminal electrolytic aluminum rose to an all-time high within the year, the enthusiasm for entering the aluminum carbon market was high, and the price of medium sulfur calcined coke basically maintained an upward trend supported by the demand side. In early November, due to the periodic decline in the price of raw petroleum coke, the price of calcined coke showed a slight correction, but the overall price was still higher than that in the same period last year.

On the whole, the demand side procurement enthusiasm is good, and the new units put into operation downstream are started one after another. Although the demand is slightly weakened under the influence of dual control, it still forms a strong support for the petroleum coke market, and the coke price continues to maintain a high level. In recent years, the downstream of domestic petroleum coke is mainly concentrated in the field of the prebaked anode and electrolytic aluminum. The carbon market for aluminum continues to have good trading, the price in the terminal market is high, and the operating load of electrolytic aluminum enterprises is high. At that time, the demand for petroleum coke may continue to increase.