Argus Fob US Gulf 6.5pc Sulphur 40 HGI Petroleum Coke Price Index: This month the CPC index has dropped dramatically from its previous peak, which was at the mid-$250s FOB. In addition, demand for petroleum coke in the Asia-Pacific and Europe is still strong, which is driving prices lower.
Argus fob US Gulf 6.5pc sulphur 40 HGI petroleum coke price index is the benchmark price reference for coke in the US Gulf. It is calculated from a survey of the majority of participants in the spot market, covering cargoes that were loaded within 90 days.
Argus publishes monthly price indexes in key petroleum coke markets worldwide. The price assessments are published in Argus Energy Argus Petroleum Coke, Argus Coal Daily International, Argus Dry Freight, Argus Coke Daily, and Argus Global Compliance Policy. They are also available on the Argus website and in Argus newsletters.
Argus price assessments are produced using industry conventions, including a rigorous methodology. The methodology is reviewed annually, and editors make sure that judgment is consistently applied. It is Argus' goal to produce accurate indicators of the commodity market value. The methodology is also designed to ensure that its prices do not represent the output of specific refineries.
Mainland China has taken a number of concrete steps to encourage emulation. Some businesses have rescinded prices to attract new buyers. Meanwhile, excess inventory is finding an outlet in foreign markets.
China's state-run media has been expanding its influence in the global news flow. This effort is part of a more sophisticated technological environment. State media is also becoming more willing to meddle in other countries' internal politics and electoral contests.
A key meeting of the Communist Party is coming up this week. Analysts predict President Xi Jinping will secure an unprecedented third term. Despite the expectations, analysts say Chinese officials have generally disappointed markets.
One of the biggest surprises was the scale of measures announced by the central bank. Despite the fact that China is a global power with a huge economy, its growth is slowing down. The country's investment spending slipped to its lowest level in more than three years, while net exports contributed more to growth than investment.
Increasing energy demand and a rapid industrialization are anticipated to drive the demand for petroleum coke in Europe and Asia-Pacific during the forecast period. In addition, technological advancements in power generation industry will also support the growth of the Global Petroleum Coke Market.
The global petroleum coke market is segmented by type, fuel grade, calcined coke and application. It is estimated that the global petroleum coke market will reach a value of US$ 4.19 billion by 2026. It is expected that Asia Pacific will continue to be the leading regional market during the forecast period. However, Europe is estimated to be the largest importer of petroleum coke.
The global petroleum coke market is expected to grow due to the rise in demand for high carbon steel from the construction industry. Furthermore, the cement industry is also expected to benefit from the growth in the petroleum coke market. In addition, the rise in steel production will further complement the growth of the petroleum coke market.
Graphite electrodes, which are used in the lithium-ion battery industry, are produced from needle coke. These electrodes have very good resistivity and mechanical strength. A large volume of raw materials is procured by manufacturers to produce these high-value carbon material products. This ensures a stable supply of needle coke.
Increasing demand for electrical vehicles (EVs) has led to a surge in the usage of graphite electrodes. This increase has also led to a significant increase in demand for batteries. This has resulted in a rise in the production of lithium-ion batteries. This, in turn, has led to a rise in the demand for needle coke.
Moreover, the rise in the usage of needle coke has also led to the growth of the graphite electrodes market. Moreover, the introduction of advanced technologies has also led to the rise of mini-mills.
Currently, Asia Pacific is the biggest market of green petroleum coke. It has a large population, increasing industrialization, and expanding construction industry. The market is expected to grow at a fast pace during the forecast period.
China is a major consumer of petroleum coke. It has close to 80% of global petroleum coke exports. The country's demand for petroleum coke has reduced a bit because of a reduction in refinery run rates. In addition, China's aluminum smelting sector expanded its annual production by 1.8 million metric tons in the second half of 2020.
The Chinese government is providing strong incentives to boost electric car sales. However, the Chinese interest in petroleum coke dwindled recently. The Ministry of Finance of the People's Republic of China issued a notice on financial subsidies for new electric vehicles.
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