SMM Forecast for Short-Term Petroleum Coke prices

SHANGHAI, May 9 (SMM) -  Prices of low-sulphur petroleum coke rose 50-100 yuan/mt after the Labour Day holiday, while those of medium and high-sulphur petroleum coke were mixed, with a change of 30-250 yuan/mt. As of May 7, the average price of SMM 3#A petroleum coke was 5,200 yuan/mt, that of 3#B petroleum coke was 4,827.5 yuan/mt, and that of 3#C petroleum coke was 4,430 yuan/mt.

Supply: At the beginning of May, private petroleum coke refineries resumed production one after another after maintenance.

The benchmark prices of domestic prebaked anodes rose 700 yuan/mt to a record high of 7,285 yuan/mt in May.

Higher prebaked anode prices gave little boost to petroleum coke prices as most prebaked anode producers restocked only as needed and maintain low raw material inventory against current high petroleum coke prices. Some petroleum coke refineries will resume production in May, while prebaked anode plants will hold back from buying until petroleum coke prices fall back to a reasonable range. As such, petroleum coke prices may fall 50-100 yuan/mt this week.