The conferences for the calcined petrol coke industry provide a forum where key players can meet other buyers, sellers and end-users to discuss current market conditions and trends. These events are also a platform for the presentation of new technologies, applications and service in the industry.
Globally, the market for calcined PETCOKE is being driven by an increase in construction and the expansion of the steel industry. Market growth is also boosted by the growing demand for electrodes and aluminum in metal sectors such as induction and electric arc furnaces. The market is likely to grow over the next few years due to the increasing production of steel and cement in the developing world.
Increased power production from cogeneration has also contributed to the growth of calcined PETCOKE. The carbon in calcined petcoke can be burned to generate electricity through gas turbines. This results in fewer emissions and lower fuel costs. The most efficient way to generate electricity is to use coal.
This market has a wide range of participants. Oxbow Corporation has been a key player in the market for many years.
Due to low construction demand, the price of calcined oil coke on Asian markets fell during the first quarter 2023. This decline was mostly due to the Chinese Lunar New Year, when most factories and offices were closed for three weeks. Additionally, the demand from South Korea, a country that primarily imports calcined petroleum coke from China, was also low during the quarter.
The COVID-19 pandemic had negative effects on the industry, since many companies in the oil-and-gas sector were forced into reducing their production to lessen the chances of infection by the virus. During the same time period, there was also an increase in freight costs from USA to Brazil.
A dockworkers strike, which occurred in Germany's most important port, also caused a disruption to the European supply of calcined oil coke. Although the price of calcined petrol coal in Japan remained unchanged, it was due to the high demand by industries that use the material such as iron ore smelting and electric power. It is anticipated that this will continue, as demand for petroleum coke and calcined coal continues to increase globally. This market will be further supported by ongoing investments in coal to petcoke projects.
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