SHANGHAI, Dec 21 (SMM) - According to customs data, China imported 1.33 million mt of petroleum coke in November, a month-on-month increase of 121.93% and year-on-year increase of 84.3%.
Among them, the imports of uncalcined petroleum coke with sulphur content of less than 3% recorded 424,900 mt, while the imports of other uncalcined petroleum coke stood at 908,300 mt.
The United States is still the main petroleum coke exporter, with imports totalling 541,300 mt, including 21,300 mt of coke with sulphur content of less than 3%. Saudi Arabia is the second largest exporter, with imports of 321,200 mt of petroleum coke whose sulphur content is less than 3%. The rest of the exporters include the Russian Federation (89,300 mt), Taiwan Province (85,000mt), Argentina (52,800mt) and others (243,600 mt)
The imports of petroleum coke in November stood at 1.33 million mt while the accumulative imports recorded 11.73 million mt. Domestic petroleum coke prices were at a low level, in spite of rebound in December. A large number of petroleum coke has accumulated at ports. The inventory at Rizhao Port stood at 769,500 mt as of December 16. In fact, a limited amount of coke flew into the market in November. It coincided with the recovery of petroleum coke prices and the inventory of various smelters fell to a low level. It can be foreseen that when domestic petroleum coke prices will rise to the same level as overseas prices, it may lead to a surge in petroleum coke market supply and affect the prices of petroleum coke. SMM will continue to focus on the actual situation of domestic imports and ports.
