1、 Price data

According to the bulk list data of business society, the price of petroleum coke of local refiners fell slightly this week. The average price of Shandong market on January 23 was 3220.00 yuan / ton, up 1.56% from 3266.25 yuan / ton on January 17.

On January 23, the commodity index of petroleum coke was 250.45, unchanged from yesterday, down 4.48% from the highest point 262.19 in the cycle (2021-09-29), and up 274.42% from the lowest point 66.89 on March 28, 2016. (Note: the period refers to the period from September 30, 2012 to now)

2、 Analysis of influencing factors

This week, the shipment of refineries slowed down, the transaction was general, the supply of some refineries increased, and the price fell slightly.

Upstream: the international crude oil price rose this week, and the oil price reached a nearly seven-year high, mainly due to the expectation of tight supply. Previously, the transportation was temporarily interrupted due to the fire of the oil pipeline from Iraq to Turkey. In addition, the International Energy Agency (IEA) raised its forecast for oil growth in 2022. Market participants generally expect that the mutated virus Omicron will have a limited impact on the global economic recovery, but the oil supply is still tight, with investors believing that the Fed is not as hawkish as expected, and the oil price continues to rebound. The survey results released on Wednesday showed that U.S. crude oil inventories may decline for the eighth consecutive week last week. It is generally expected that the U.S. Energy Information Administration (EIA) data on Wednesday still point to the decline of crude oil inventories. In addition, the geopolitical conflict between Russia and Ukraine further aggravates supply concerns, and oil prices are supported.

Downstream: the price of calcined coke remained basically stable this week; The market price of metal silicon decreased slightly; The price of downstream electrolytic aluminum rose. As of January 23, the price was 21370.00 yuan / ton.

The petroleum coke analyst of business society believes that: the supply of local refineries has increased recently, the shipment is general, the price has dropped slightly, the procurement of downstream terminals before the festival is about to end, and the logistics is about to have a holiday. At present, the price of local petroleum coke is high, and it is expected that the price of petroleum coke may fall slightly in the near future.