SMM News on May 22:
According to customs data, China imported 1.8231 million mt of petroleum coke in April 2025, up 62.02% MoM and 23% YoY. The approximate import price of petroleum coke in April was $188.40/mt, up 18.05% MoM and 24.83% YoY. The cumulative total imports of petroleum coke in China for 2025 were approximately 5.3424 million mt, up 10.9% YoY.
In terms of import sources, the main countries/regions from which China imported petroleum coke in April 2025 were the US, Russia, and Saudi Arabia, with import volumes (import shares) of 891,300 mt (49%), 243,200 mt (13%), and 163,900 mt (9%), respectively.
In terms of import prices, petroleum coke import prices in April 2025 mainly increased, with the import price at $188.40/mt, up 18.05% MoM. There were a total of 17 source countries/regions for petroleum coke imports this month, with 13 countries showing continuous import volumes. Among them, import prices from Argentina, Kazakhstan, and Brazil increased significantly, with the maximum increase exceeding $100/mt, while prices for petroleum coke imported from Germany and Azerbaijan declined notably.
After entering Q2, the scale of maintenance at domestic refineries further expanded, driving a continued decline in petroleum coke supply. However, as previously shipped cargoes arrived at ports, the inventory of petroleum coke at ports has entered a buildup cycle. Demand-side performance remained weak, with downstream enterprises lacking purchasing momentum. Coupled with the impact of Sino-US trade frictions, the buying sentiment of traders cooled significantly, and the market was dominated by a wait-and-see atmosphere. On the import front, considering shipping schedules and the concentrated arrival of previous orders, SMM expects that petroleum coke imports will continue to show a growth trend MoM in Q2. It is worth noting that, driven by previously announced policies, traders have accelerated the shipping pace of petroleum coke imported from the US to reduce tax costs, a factor that may further boost the MoM increase in import volumes.
