In August, domestic oil coke prices continued to rise, early maintenance refineries have started to resume production, the overall supply of oil coke shock increase. The end market demand is good, the downstream enterprises start to stabilize, and the oil coke market shows an upward trend under the two-way support of supply and demand.
Data analysis, the average operation rate of domestic delayed coking unit in August was 61.17%, down 1.87% month-on-month, down 5.91% year-on-year. The average operation rate of delayed coking unit of main refinery was 66.84%, decreased by 0.78%. The average operating rate of delayed coking unit was 54.4%, which decreased 3.22%.
Data statistics, domestic petroleum coke production in August was 2,207,800 tons, decreased by 51,900 tons or 2.3% from July, and decreased by 261,300 tons or 10.58% year-on-year.
The monthly output of petroleum coke in the main refinery was 1,307,800 tons, which decreased by 28,000 tons or 2.1%. Coking units of three refineries of CNOOC system reduced production to varying degrees; CNPC system liaohe petrochemical and Lanzhou petrochemical overhaul, and some refineries start small fluctuations; 5 refineries of Sinopec system reduced production, and a coking device of Gaoqiao Petrochemical was overhauled.
The monthly output of petroleum coke was 900,000 tons, down 23,900 tons or 2.59%. As a whole, the delayed coking device has been opened and stopped. Kenli Petrochemical, Lanqiao Petrochemical, Dongming petrochemical, United Petrochemical, Ruilin petrochemical, Youtai Technology, Zhejiang petrochemical and other related equipment maintenance or production reduction; In addition, Jincheng new plant, Panjin Baolai, Luqing petrochemical coking device out of coke.
In August, the domestic market trading of calcined burning was fair, and the downstream demand was strongly supported. The start of production in Henan decreased slightly due to the impact of heavy rain and epidemic. Some enterprises in Shandong had production reduction and shutdown, and the operating rate of calcined enterprises dropped. Raw petroleum coke prices continue to be high, driven by the cost of burning calcined prices rose substantially. By the end of August, the monthly price of sulfur calcined in China rose about 400 yuan/ton. At present, the mainstream transaction acceptance price of general goods with 3% sulfur content in Shandong is about 3200 yuan/ton, the mainstream transaction price of index goods with 3% vanadium 350 is 3600 yuan/ton, and the transaction price of index goods with 2.5% sulfur content is 3800 yuan/ton. Some enterprises have signed shipping orders for September. Although the cost price continues to rise, there is no pressure for calcination enterprises to sell temporarily.
In August, the dewarehousing operation of domestic electrolytic aluminum slowed down slightly, and the storage of electrolytic aluminum remained at about 750,000 tons. South China, southwest and North China continue to be affected by environmental protection and power rationing policies. Electrolytic aluminum enterprises in Yunnan and Guangxi have imposed power rationing by 30%. Electrolytic aluminum production has decreased slightly. At present, the overall production enthusiasm of aluminum carbon market is high, and the continuous high price of terminal products supports the petroleum coke market strongly.
Future forecast:
Downstream carbon market trading is ok, pre-baked anode pricing in September pushed up substantially, the aluminum carbon market formed a strong positive support. With the maintenance of coking units have started to coke, domestic oil coke supply gradually restored. In the short term, low sulfur petroleum coke prices continue to maintain a high level of negative material market support, high sulfur petroleum coke positive export shipments, coke price stability or individual ups and downs, but the overall adjustment or a slowdown.
Post time: Sep-08-2021