Petroleum Coke Prices Moved Rangebound In April

Petroleum coke prices moved rangebound during April 10 and May 10, and the market transactions improved compared with the previous month. Downstream carbon plants still purchased as required. Petroleum coke stocks at domestic ports were still at a high level, exceeding 5 million mt to reach a new high as of the week ending May 5.

This ensured ample supply of petroleum coke in the market. Inventories at mainstream refineries were low thanks to brisk trades. Local refineries’ shipments improved, and the downstream purchasing interest improved ahead of Labour Day holidays. Coke prices inched higher in late April, and moved rangebound as a whole.

In terms of asphalt, the cost support weakened as the prices of raw material high-temperature zetar dropped sharply. During the month, as zetar deep-processing enterprises further resumed production, the supply of asphalt increased. But the prices of downstream prebaked anodes continued to fall, and downstream enterprises purchased cautiously. In this scenario, asphalt prices dropped further during the month.

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