SMM

SHANGHAI, Jun 2 (SMM) – Shipments of medium- and high-sulphur petroleum coke were average this week. The prices of leading enterprises were stable while that of local producers declined slightly. According to SMM research, the ex-factory quotation of Tahe Petrochemical was 1,790 yuan/mt on June 1, versus 1,560 yuan/mt by Guangzhou Petrochemical and 1,580 yuan/mt by Yangzi Petrochemical. The prices of local producers fell this week as low-priced imported petroleum coke hit the domestic goods, leading to slow shipments of local producers. After continuous price cuts in the first half of the week, the shipments of producers improved in the second half of the week and the prices of petroleum coke increased 30-50 yuan/mt. Aluminium capacities grew slowly and the anode material market picked up slightly, leading to increase in demand. However, the petroleum coke prices were greatly suppressed by the high stocks at ports and the arrivals of low-priced imported goods. SMM presumes that the short-term petroleum coke prices will move rangebound.