Graphite Petroleum Coke price is an integral component in the steel production process. Graphite Petroleum Coke is a brown material that looks similar to coal. It acts as a carbon raiser during the refinement of crude oils, thus allowing for better metallurgical properties in steel melting. It is also a key ingredient in the production of cast iron, alloy, and plastic, as well as being an excellent fuel for the production of electricity and heat. The price of Graphite Petroleum Coke is heavily dependent on a variety of factors including the supply-demand dynamics, competition with other suppliers and economic conditions.
The quarter-ending price for Petroleum Coke Calcined Grade CFR Santos in Brazil remained relatively stable, reflecting a balanced pricing landscape. South America is impacted by several factors. These include a sluggish market, inventory increases, Venezuelan massive discounts and cautious markets sentiment.
Yet, the price of Petroleum Coke has fallen in North America despite the fact that the general pricing situation remains stable. It was due to a combination of market conditions and external forces. The combination of high inventory and weak demand in the construction industry, which is a large consumer of Pet Coke led to a buyers' market that drove prices lower.
In China, a growing number of vehicles that use new, alternative energy sources and have increased their storage capacity has led to a greater demand for the raw material graphite. Needle coke, petroleum coke with low sulfur, and even natural graphite are all in high demand. According to a trader, the rapid growth in anode production capacity in China will likely lead to a switch from regular petroleum to needle coke. This is because of its lower cost. As synthetic graphite prices have fallen, this trend has been further accelerated. Lower-sulfur petrol coke is now more appealing as a fuel for the production of anodes.
In China, however, regular petroleum coke still costs less than needle coke. This is likely to be the most important source of anode production for the foreseeable future. In fact, some anode producers have already switched to lower-sulfur petroleum coke from needle coke in order to keep production costs down.
Graphite Petroleum Coke prices in Germany remained low despite ongoing challenges on the carbon and coal markets. The European market, in particular, continued to suffer from a shortage of high-sulfur Petroleum Coke, which led to lower-sulfur grades gaining a larger share. In addition to this, prices for high-sulfur Petroleum Coke on the market were affected by an increase in Venezuelan imports.
Graphite Petroleum Coke's price in China remained under USD 400/MT during this quarter. After the Chinese government resumed its production, and after port inventories had been cleared, the market was in a position to restore the balance of supply-demand, preventing any sharp changes. In part, this was because some buyers adopted a strategy to purchase on demand. The price in the country was USD 275/MT at the end of the quarter. The price in Q1 of 2024 was USD 362/MT.
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