Petroleum Coke Prices Are Expected to Keep Falling amid Loose Supply

SHANGHAI, Nov 25 (SMM) – According to National Bureau of Statistics, China's petroleum coke production in October was 2.63 million mt, an increase of 158,000 mt or 6.4% from the previous month.

The prices of petroleum coke fluctuated at low levels in October. The production of aluminium plants remained restricted by the policies, unlikely to be resumed.

The carbon plants are expected to reduce or suspend production for heating season, so they purchased petroleum coke on demand.

China imported 600,700 mt of petroleum coke in October, down 512,700 or 46.27% in September, but up 28.48% on the year.

The overall petroleum coke supply exceeded the demand, which forced down the prices.

According to SMM survey, the prices of petroleum coke are expected to keep falling, and the inventories across smelters will increase further. SMM will continue to monitor the petroleum coke market.