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Get the latest insights on price movement and trend analysis of Pet Coke in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).
Pet Coke Price Trend for the Q2 of
Asia
The pet coke price trend during the second quarter of was guided by the uprising geopolitical tensions and constant fluctuations in the prices of crude oil and natural gas in Asian countries. The market also witnessed the adoption of a wait-and-see approach by the consumer sector.
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Initially, the on-spot orders were sufficient to drive the momentum of the market, but soon, the lack of bulk orders and a limited number of both domestic and overseas queries depreciated the overall dynamics of the market, resulting in a downtrend in the pricing patterns of pet coke.
Europe
The carried over stockpiles of pet coke from previous quarters and oversupply of the commodity during the second quarter of . These high inventory levels met with limited procurement activities throughout the quarter, further raising the concerns of the traders. Additionally, the competitive pricing of overseas imports propelled the domestic market participants to lower their quotations for pet coke. The traders even had to assert offering substantial discounts on bulk purchases to relieve some pressure from the market, but it failed to exert any positive influence on the pricing trajectory of pet coke.
North America
The North American market of pet coke did not respond well to the fluctuations in the key drivers of the market in both domestic and overseas regions. The quarter struggled with high inventories, frail demand from the downstream industries, and heavy discounts added by the Venezuelan players. Further, the consistent rise in inflationary pressure and the significant surge in the cost of production amid the limited interest of consumers forced the manufacturing and trading sectors to reduce their operational rates.
However, the southward trail of the market was unaffected by these measures, and the prices continued to decline. The market players further quoted that the disruptions in the trading patterns caused by rising geopolitical tensions and changes in freight charges also contributed to the cautious approach of consumers and kept the prices of pet Coke in the red zone.
Analyst Insight
According to Procurement Resource, the price of Pet Coke is estimated to showcase oscillating sentiments in the next quarter as the key drivers of the market have not yet shown any growth.
Pet Coke Price Trend for the Q1 of
Product Category Region Price Time Period Pet Coke Operating Costs, Logistics and Utilities South America 689 USD/MT March&#;24
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Asia
Pet coke or Petroleum coke prices remained steady in the Asian region. In the Chinese market, high inventory pressure kept the price trend downward tilted amidst declining downstream demands. Some occasional upticks in the price graph were attributed to the phases of increased order values or high demand in the Chinese market. In the Indian market, on the other hand, consumption was seen on the rise, especially from the cement industry.
India remained one of the top importers of pet coke as various cement-making firms underwent expansion, and the rapid infrastructure investments in the country, especially ahead of the general elections, supported the demands. As the US paused its sanctions on Venezuela till mid-April '24, it opened newer avenues for Indian pet coke importers. Competition in the Indian market also kept the prices in check as Oman's new refinery is shipping high sulfur coke at competitive prices with the USA.
Europe
The pet coke price trend was quite mixed in the European market. But at large the overall performance was underwhelming throughout the said period of the first quarter of . Initially, the suppliers struggled to manage the existing stockpiles. Since the demands have been low for a long time now, the inventories started on a glutted note at the beginning of the quarter in January. This kept the prices wavering at the lower end in the early months. However, as some product movement shook the stocks a little, some restoration was seen in prices in the second half of the quarter. The overall market outlook remained subdued as the observed improvements were marginal. Conclusively, a bearish trend was witnessed.
North America
US Gulf Coast petroleum coke prices faced downward pressure in Q1 of due to increased competition from new production in other countries entering the market. High freight costs, particularly due to congestion in the Panama Canal, are expected to limit US Gulf coke exports to the Atlantic basin, where demand is lower. New supply from Mexico and Oman is anticipated to compete in this region, while Venezuela could increase exports if US sanctions remain paused. The Atlantic basin coke market will become more competitive with the entry of supply from Pemex's Olmeca refinery in Mexico. The maintenance shutdowns during this quarter did provide some cost support, but the supplies still remained high in the region.
Analyst Insight
According to Procurement Resource, the Pet Coke prices are likely to remain competitive in the coming quarter as well. A downfall has been seen in the global consumption of pet coke; this will keep the prices in check in the near future.
Pet Coke Price Trend for the October - December of
Asia
The rising uncertainties in the cost of crude oil around the globe exhibited a significant influence on the Asian pet coke price trend. Since the advent of the quarter, the prices started their southwards journey as in order to maintain their profit margins, the Chinese steel and other basic metal industries reduced their production outputs. The major cause of this disturbance in the market is attributed to the rise in the imports of pet coke at Asian ports while its demand especially from the EV sector remained subdued.
However, on the other hand, the story of Indian pet coke price trend is completely opposite to what was observed in China. Leaving China in a second spot, India gained the status of the highest number of pet coke imports in , indicating the robust industrial growth of the country. The Indian pet coke buyers showed a strong appetite that helped the traders in replenishing their stockpiles despite the volatility in the cost of crude oil and helped the pet coke price trajectory to face northwards.
Europe
The end phase of the last quarter of saw a dramatic drop in pet coke prices because of a slowdown in the European building industry. The rise in inflationary pressure in Germany exacerbated economic worries by reducing consumer demand, hurting the building industry, and influencing the consumption of pet coke.
The lack of indications of a construction rebound and a decline in new projects made the state of the market worse. As the inventories reached their saturation, the traders had to adopt destocking activities, thereby lowering the existing quoted price of pet coke.
North America
The challenges, such as low domestic consumption, warmer weather conditions, oversupply, and competitive pricing of crude oil and coal, were well translated into the pet coke price trend during the last quarter of .
The region also faced the issue of excessive rates of production, which surpassed the existing demand for pet coke, which in turn forced the traders to reduce their profit margins. Furthermore, the rise in cheap imports from Asian countries increased the competition in the market and eventually led to the downward movement of pet coke prices.
Analyst Insight
According to Procurement Resource, the price trend of Pet Coke are expected to face some stability in the upcoming quarters, especially in the German market, as it is showing signs of revival.
Pet Coke Price Trend for the July - September of
Asia
The sanctions on the export of crude oil from the majority of exporting nations by OPEC+ raised the cost of energy products that worked in favor of pet coke price trend. In the third quarter, the upswing in the pet coke prices was also a consequence of a substantial decline in the level of inventories, supporting the demand from the domestic as well as overseas downstream industries. The supply chains also worked efficiently during this time, helping the pet coke price trend to move in the rising direction.
Europe
A subtle decline in pet coke prices during the initial months of the third quarter was due to the high rates of inflation and fluctuations in the economic conditions faced by the traders. However, as the quarter progressed, the pet coke market dynamics shifted towards the positive side, and the pet coke price trend began to incline. In addition to this, the number of inquiries from international players also improved significantly along with the interest of the construction sector that gave the pet coke price graph its required momentum.
North America
The pet coke price trend in North America followed an exact opposite trajectory as compared to Asian and European countries. The key players in the pet coke market showcased only limited interest in the sector, and thus, the demand for pet coke experienced a noticeable fall. Due to this sluggish rate of procurement from the downstream industries, the inventories piled up causing the traders to lower their price quotation of pet coke.
Analyst Insight
According to Procurement Resource, the price trend of Pet Coke are expected to incline at a gradual pace as the downstream industries seem to support the rise in demand for pet coke.
Pet Coke Price Trend for the First Half of
Asia
The downfall in the price trend of pet coke was caused by declining demand from the downstream industries in the first quarter of . The feeble performance of the key sectors was a direct consequence of the shutting down of market activities due to the Lunar New Year holiday season in China.
The pet coke industry also slumped in South Korea; the Indian markets, however, witnessed a stable trend in prices. In the second quarter, the prices fluctuated on account of the falling cost of feedstocks and reduced procurement from the construction sector in the majority of Asian countries. In India, however, the trend surged with the growth in the construction and infrastructure sectors.
Europe
In European countries, due to high inflation, the construction sector faced numerous difficulties in maintaining its momentum, which in turn had an adverse effect on the price trend of pet Coke in the first quarter of . This also hampered the spending budgets of the consumers, and with further disruptions in the supply of pet coke, the prices of pet coke found it difficult to grow.
North America
The shortage of labor, low demand, weak performance of the downstream industries, and sanctions on Russian imports proved to be the major challenges for the prices of pet coke in the first quarter of . Along with this, in the second quarter, the failure of two major banks in the US and the economic crisis exerted huge financial pressure on pet coke prices, which fell gradually during this quarter.
Analyst Insight
According to Procurement Resource, the price trend of Pet Coke is expected to struggle due to low demand as the construction and related sectors are grappling amid the global economic crisis.
Pet Coke Price Trend for the Second Half of
Asia
The Asian market witnessed a plunging trend for Pet Coke in the third quarter of . The Chinese construction market remained slow because of state-imposed restrictions on movement and outdoor activities, limiting the market offtakes. Discounted crude oil supplies to India and China from Russia kept the upstream costs in check, thereby aiding the price decline. In Q4, the consistent rise in demand from the construction sector in India pushed up the prices a bit. Overall, the price trend for pet coke remained anchored in the Asian market.
Europe
Given the economic backlash and runaway inflation, the purchasing power of European consumers was severely affected. The consistent high prices led to the phenomenon of demand destruction causing the prices to decline despite high upstream costs. Eventually, the manufacturers were forced to actively participate in destocking to clear off the inventories. Many producers shut operations considering the harsh market conditions. Hence, the price trend for pet coke kept on a lower trajectory during H2 of .
North America
The North American market mimicked the global outlook in terms of pet coke prices. Despite the high prices of crude oil, the prices of pet coke fell given the dwindling offtakes/inquiries in the market. The same market disbalance continued in the fourth quarter causing the price trend to decline as no new demand was seen.
Analyst insight
According to Procurement Resource, the price trend for pet coke are expected to remain unsettled in the coming months. As the demands from the construction sector rebound, the availability of crude oil at stable prices will likely affect the prices.
Pet Coke Price Trend For the Second Quarter of
Asia
Towards the start of the said quarter, pet coke prices surged in the Asian market due to the volatile prices of crude oil globally. However, prices soon began to stabilize due to cheap imports from Russia. Slapped with sanctions, Russia sold its products to India and China at a discounted price. The price averaged RMB/MT in the Chinese domestic arena.
These weakened price trend for pet coke were also seen in the Indian domestic market, where the prices went from 22,473 INR/MT to 20,114 INR/MT. The lower prices breathe new life into the cement investors, thereby increasing their investment returns.
Europe
The prices weakened in the second quarter due to the buyers&#; resistance to buying the stocks at higher prices. The sluggish demand from the construction sector and raised speculations about potential recession triggered the prices to fall in the European domestic market.
North America
In line with the global trend, the price trend for pet coke were on the lower end of the scale in the US domestic arena. The heightened supply due to increased refinery output amidst the low market demand caused the prices to crash. Per ton price of pet coke fell 10% M-O-M basis in June , averaging around 254 USD/MT.
Pet Coke Price Trend For the First Quarter of
Asia
On March 25, the price of petroleum coke in China increased dramatically. Shandong's average market price was 4,851.25 RMB/MT, up 1.46% from the previous day's price of 4,781.25 RMB/MT. At the moment, the overall pandemic in Shandong has had minimal influence; downstream carbon factories have resumed operations one by one, and the market for petroleum coke is strong, driving up prices. The price of the fuel is projected to climb further in the foreseeable future.
North America
From an average of 160 USD/MT in January to 180 USD/MT in February , the US petroleum coke price rose to 200 USD/MT. After falling by 33% from November to January , the domestic price increased by 4% month over month in February.
In January, prices for petroleum coke and imported coal rebounded after falling during November and December . Coal prices rose as a result of a ban on Indonesian coal exports and escalating tensions between Russia and Ukraine.
Pet Coke Price Trend For the Fourth Quarter of
Asia
Prices of calcined coke in China increased by 20% Ex-Shanghai on a quarterly basis from Q3 to Q4 of FY21, indicating that the Asian Petroleum coke market had been steadily rising throughout the second half of FY21. Prices of calcined coke increased by about 90% from Q3 to Q4 on a CFR Visakhapatnam basis in India, following a similar trend.
Non-calcined Petroleum coke cost had also increased, with average prices stated at 120% more than the previous quarter. The imminent coal crisis, which was felt throughout China and South Asia for the majority of Q4, forced cement and metallurgical sectors to turn to Petroleum coke as an alternative.
Europe
In the last week of November, 6.5 % sulphur pet coke prices assessed on a CFR ARA basis fell by 6%, to 176 USD/MT. The trend reversal was short-lived, as pet coke prices began to rise in the second week of December, as energy consumption in Europe increased during the winter season, forcing coal prices to rise.
North America
Due to a lack of coal supply in Asia, demand for the compound increased in the second part of FY21, resulting in an increase in coal export prices. By mid-November, however, the pet coke to coal discount had narrowed as China's coal prices began to fall as a result of government intervention.
On a FOB USGC basis, the November end prices of 6.5% Sulphur Petroleum Coke were quoted at a 9.5% discount to API4 coal, down from 37% in October. However, prices rose again in December, as winter energy consumption in North America and Europe was typically higher, causing energy prices to rise.
Latin America
In South America, pet coke prices were cheap initially in , but in December it jumped sharply due to market tight supply, Also, the demand rose in December due to the reviving of the market and oil and gas industry activities after the new COVID variant. The price was recorded at 380 USD/DMT.
Pet Coke Price Trend For First, Second and Third Quarters of
Asia
The Asian market had a varied price and demand for this product; for example, demand was high in India, but low in China. In the first quarter of , demand from the steel production industry remained low in China, and prices fell effectively due to consistent supply. Meanwhile, in India, strong demand from the cement production sector boosted the prices throughout the quarter, affecting retail cement prices. Several Petroleum coke behemoths raised their pricing, for example, RIL (Reliance Industries Ltd) raised its Petroleum rates from around 125 USD/MT to 150 USD/MT in the first quarter.
In the third quarter of , the market in Asia saw conflicting sentiments. Prices fell at the start of the quarter as production rates increased and import activity improved. However, in the second part of the quarter, an extraordinary increase in its value was noticed, owing to a number of circumstances including Hurricane Ida's arrival on the US Gulf Coast and congestion at numerous Chinese ports.
In India, the supply chain interruption caused by Hurricane Ida, as well as congestion at China ports, resulted in a product supply deficit, which drove up the prices in the Indian market. Thus, in September, the price in India was 188.36 USD /MT, a slight increase of 22.41 USD/MT from July.
Europe
The European market saw a surge in Petroleum Coke shipments, particularly from Asia. As a result of the freezing storm, North America's production and exports remained stifled, Europe seized the opportunity to capture the region's market for this quarter. However, the Suez Canal crisis at the end of March temporarily impeded exports. Container shortages existed before to this crisis, but freight prices climbed significantly as a result of the Suez Canal crisis.
In Q3 , the European market prognosis for the compound saw an increasing trend in pricing, owing to low production rates and strong demand from downstream firms. Furthermore, the rise in feedstock crude oil prices, as well as exorbitant freight charges on Europe-Asia and Europe-US interoceanic trade routes, contributed to the price inflation of Petroleum Coke in Europe.
Because of the impact of Hurricane Ida, crude oil output struggled to recover during this time period, resulting in a shortage of the compound in the regional market, as Europe imports the majority of this product from the United States. In September, CFR Hamburg pet coke prices rose to 504 USD/MT, up 49 USD/MT from July.
North America
The production in North America was effectively halted as a result of the North American winter storm, as manufacturers experienced numerous challenges in operating their operations in such weather circumstances.
As a result of the winter storm, some facilities or refineries were forced to shut down and reduce production to nearly zero. More than 50,000 tonnes of output were anticipated to have been impeded as a result of the storm, which pushed up prices from 205 USD/MT in January to 220 USD/MT in March .
With the restart of various plants around the region, positive hope began to hover around the end of March. Pet coke prices rose in the third quarter of , owing to upstream crude oil price volatility. Furthermore, as part of a contingency plan ahead of Hurricane Ida, most oil and gas refineries around the Gulf Coast of the United States shut down their units in August, directly impacting the prices in Q3.
In addition, due to the pandemic, numerous refineries lowered their output, which was aided by lower jet fuel usage. In addition, the hurricane Ida compounded the crisis by driving up freight costs and disrupting supply chains, resulting in an enormous price increase. Thus, the FOB-US monthly average price was 515 USD /MT in September, up 45 USD /MT from July.
Latin America
According to GTT data, green Petroleum coke (GPC) exports increased to 55,300 MT in March from near-zero levels a year earlier, while imports more than doubled. On a CIF US Gulf basis, the price for 0.8 % sulphur coke close to Brazil's quality tripled in the last year, reaching a midpoint of 352.50 USD/DMT (dry metric tonne) last month, up from 132.50 USD/DMT in March . Because global GPC supply had been extremely limited, the distributors were presumably holding part of the Brazilian coke for their own calcining operations.
Pet Coke Price Trend For the Year
Asia
In comparison to Q3 , demand for Petroleum Coke in Asia increased significantly in Q4 . The cement industry's demand had risen as a result of continuous development projects in Southeast Asia, particularly China, Vietnam, and India.
Prices for calcined and non-calcined Petroleum Coke ranged from 200 to 240 USD/MT and 62 to 76 USD/MT, respectively, depending on quantity and distance from the import point. Due to an increase in building activities and increased demand from the steel, cement, and aluminum industries, market sentiment improved in Q4 . Due to a balance in demand and supply, pet coke prices were expected to remained constant in Q1 .
Europe
The demand throughout Europe remained strong. Due to insufficient demand in the country, exports from the Phillips 66 Company factory in the United Kingdom had surged. Furthermore, the majority of exports were sent to countries in Asia-Pacific. Because of the disparity in demand across Europe, the price of Pet Coke varied.
The price of HSR grade was 340-416 USD/MT, whereas the price of HSP grade was - USD/MT. In comparison to Q3 , pet coke prices increased by 3-5 %. The demand from the European region was predicted to increase in the coming months, and the prices were expected to climb as crude oil prices rose around the world.
North America
Prices in the United States began to rise in Q4 , owing to consistent increases in feedstock crude oil costs. The demand for the compound in the region has increased since Q3 , with non-calcined Pet Coke prices ranging from 60 to 72 USD/MT, while green Pet Coke prices had been trending upward and were traded between 67 and 73 USD/MT.
The margins increased, and demand from both the domestic and international markets was also increasing. Due to the rise in sweet crude prices, refineries with a higher Nelson Complexity Index saw a solid demand and larger profit margin, whereas sour crude prices increased somewhat. Prices were expected to rise in the coming months as a result of increasing demand from the region and the end-use industry.
Latin America
In , the Brazilian market price of Pet Coke was recorded at 132.5 USD/MT. From October through December , Brazil maintained consistent GPC exports to China, although shipments previous to were more erratic. Since the introduction of Covid-19, China's anode-grade coke supply was already reduced, with some indications that the decline may be structural as refiners limit coke production.
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For the Quarter Ending June
North America
In Q2 , the Petroleum Coke market in North America experienced a notable decline, primarily driven by various market dynamics and external influences. The quarter saw a confluence of factors including high inventory levels, sluggish demand from downstream sectors, and huge discounts from Venezuela. Inflationary pressures played a significant role, with both selling and input cost inflation reaching their lowest levels in six months. Additionally, the overall market sentiment remained cautious due to geopolitical uncertainties and economic concerns.
Focusing on the USA, which witnessed the most significant price fluctuations, the overall trend leaned towards a bearish market. Seasonality and demand fluctuations, particularly from the construction sector, contributed to this downward trajectory. The correlation in price changes highlighted a consistent decrease, influenced by high port inventories and lower shipping costs which exerted downward pressure on prices.
Concluding the quarter, the price settled at USD 389/MT for Petroleum Coke Calcinated Grade FOB USGC, USA. This consistent decrease suggests a negative pricing environment, reflecting challenges in stabilizing the market amidst fluctuating supply and demand dynamics.
APAC
The APAC region has experienced a notable increase in Petroleum Coke prices during Q2 , driven by various significant factors. Primarily, the geopolitical tension and supply risks in upstream crude oil and natural gas markets have led to higher production costs for Calcined Petroleum Coke during April . Nonetheless, buyers have adopted cautious procurement strategies, focusing on immediate needs rather than bulk purchases, which has contributed to a balanced market dynamic. This surge in costs has been compounded by disruptions in refinery operations due to maintenance shutdowns, which have reduced the overall supply of Petroleum Coke in the market during May . Scheduled maintenance shutdowns at coking units in Fuhai United and Zhenghe Petrochemical have reduced domestic production of petroleum coke in China. Coinciding with the maintenance shutdowns, existing petroleum coke storage at refineries was recorded to be low. Focusing on South Korea, the market has seen the most pronounced price changes in the region. The overall pricing trend for Petroleum Coke in South Korea during Q2 reflects a stable to bullish trend yet cautiously optimistic environment, despite the seasonal downturn in demand from downstream industries. The quarter witnessed a 7% price increase compared to the same period last year, highlighting a positive sentiment driven by improved economic conditions and strategic stockpiling before the peak consumption season.
Europe
In Q2 , the Petroleum Coke market in Europe has experienced a significant downtrend, driven largely by several critical factors. The quarter has been marked by an oversupply of Petroleum Coke relative to demand, exacerbated by high inventory levels and subdued procurement activity. Competitive pricing from foreign markets, particularly from exporters offering substantial discounts, has further pressured local market prices. This pricing strategy, alongside aggressive marketing tactics, has led to a bearish sentiment throughout the quarter. Focusing on Germany, which has seen the most pronounced price fluctuations, several trends emerge. The overall market environment has been negative, with prices reflecting a stark 43% decline compared to the same quarter last year. From the previous quarter in , prices dipped by 24%, indicating an ongoing struggle to stabilize market value amid persistent supply surpluses and low demand. The latest quarter-ending price for Calcined Petroleum Coke in Germany, recorded at USD 361/MT CFR Hamburg, encapsulates this negative pricing environment. These consistent decreases reflect an overall challenging period for the Petroleum Coke market, driven by high supply and competitive pricing strategies that have significantly eroded market stability.
South America
In Q2 , the South American region witnessed a significant decline in Petroleum Coke prices, with Brazil experiencing the most notable changes. This quarter has been characterized by a multitude of factors influencing market prices. The overall trend in the region has been negative, with Q2 alone, prices dropped by 17% from the previous quarter, indicating a continued downward trajectory. The factors have contributed to this pricing environment, including sluggish demand from downstream industries, excess supply level from Venezuelan discounts and cautious market sentiment. Additionally, the re-imposition of sanctions on key exporting countries has impacted imports, further driving prices down. Oil exports have already decreased by 38% MoM as a result of the impact, nevertheless, there might be opportunities for exceptions for specific goods. However, the available supply of Pet Coke was enough to cater to the subdued demand. The Brazilian market, in particular, has been impacted by these factors, resulting in the quarter-ending price of USD 431/MT for Petroleum Coke Calcined Grade CFR Santos. Overall, the pricing environment for Petroleum Coke in Q2 has been predominantly negative, reflecting a challenging market landscape characterized by declining prices and uncertainty.
For the Quarter Ending March
North America
The first quarter of has been negatived for Petroleum Coke pricing in the North American region, with prices experiencing a significant decline. The supply-demand dynamics played a significant role in shaping the market.
Moderate supplies and low to moderate demand declined the overall price trend throughout the quarter. The reduced demand from the downstream steel industry for pet coke, the impact of crude oil prices on production costs, and the availability of Venezuelan pet coke in the market played crucial roles. The USG market softened during this time frame due to a lack of fresh demand, as most spot cargo requirements with upcoming holiday delivery dates had already been covered.
Moreover, weak demand and abundant Pet Coke stocks in the USA put downward pressure on prices. Due to the subdued demand from the regional as well as the international market, the traders have started to provide heavy discounts by Venezuela on the product throughout quarter one. Despite disruptions caused by issues in the Red Sea and Panama Canal shipping routes, the supply of Pet Coke in the USA remained steady.
APAC
The first quarter of has been characterized by mixed prices for Petroleum Coke in the APAC region. The lower arrivals and decreasing inventory during January exacerbated the uptrend as fewer petroleum coke shipments at ports have led to declining stockpile levels which further added to price hikes. Additionally, active stocking from the downstream construction industry further supported the trend amidst pre-holiday restocking by consumers has further tightened domestic supply. Because of the restricted supply, purchasers are forced to compete, which drives up prices. After the Lunar New Year Holiday, the Pet Coke market in South Korea witnessed a significant drop during the end of February . The post-holiday rush, where downstream enterprises stocked up, has subsided. This decrease in demand has left the market with a surplus of petroleum coke, putting downward pressure on prices. This decline in demand has put downward pressure on prices. Furthermore, the ease in supply pressure from the Chinese market has contributed to the overall negative sentiment. Both domestic ports and importers are experiencing high petroleum coke storage levels.
Europe
Quarter 1 of saw a declining trend in the European Petroleum Coke market with low demand and ample supply. The prices experienced a decline due to oversupply and intense competition among vendors. The emergence of Venezuela as a new source of low-sulfur Pet Coke further intensified the struggle for buyers. Germany, a significant consumer of Pet Coke, witnessed steady pricing with a significant decrease compared to the previous year and quarter. Despite shipping disruptions, the supply chains demonstrated resilience, ensuring a continuous supply of goods. Furthermore, insufficient demand and an abundance of Pet Coke supplies in Europe pushed prices downward. Due to low demand in both the regional and international markets, Venezuelan dealers have begun to offer significant discounts on the goods throughout the first quarter. Due to a deteriorating trend in the European market, the month came to an unfavorable close. The number of available ships kept increasing, surpassing the restricted amount of Pet Coke cargo on main routes. Throughout the quarter, high supplies and low to moderate demand lowered the overall price trend.
South America
The South American region witnessed declining market sentiments during the first quarter on the back of a supply glut from Venezuela and low demand. Various factors have influenced market prices, including supply and demand dynamics, currency fluctuations, and competition from other suppliers. Overall, the market has been characterized by a bearish trend, with prices declining compared to the same quarter last year. In Brazil, the price of Petroleum Coke has decreased by 37% compared to Q1 , reflecting the downward trend observed in the market. Additionally, there has been a 28% decrease in prices from the previous quarter in , indicating a further decline in pricing. The latest quarter-ending price for Petroleum Coke Calcined Grade CFR Santos in Brazil stands at USD 480/MT, indicating a relatively stable pricing environment. However, the market has been negatively impacted by factors such as oversupply, competition from other suppliers, and weak demand from industries such as iron and steel. Market conditions, including supply and demand dynamics and competition, have influenced pricing trends, resulting in a bearish market sentiment.
For the Quarter Ending December
North America
The North American petroleum coke market witnessed overall stability during the fourth quarter of , with no notable shortages of materials. However, the previous quarter reflected an overall declining trend, while the current market situation remained moderately unchanged. The feedstock crude oil price was a key factor that could affect product pricing.
The USA experienced a period of stability in demand, with an uptick observed due to new inventories entering the market among suppliers kept the market strong during November. However, the price of pet Coke remained stable in the US market during December, largely due to the steady demand from the downstream construction industry, which balanced against a moderate supply of the product within the country. The latest/quarter-ending price of Petroleum Coke Calcinated grade FOB USGC in the USA was USD 668/MT.
This decline contributed to a more pronounced deterioration in operating conditions within the goods-producing sector, marked by contractions in output, new orders, employment, and stocks of purchases. The downstream construction sector has not performed up to the mark due to the winter season and many enterprises were willing to clear inventories which further balanced out the overall trend.
APAC
The Petroleum Coke market in the APAC region witnessed stability during the current quarter of (Q4). The market was impacted by a complex interplay of economic indicators and global energy trends. The negative electrode market exhibited weakness, which contributed to a lack of support for the pricing of medium sulfur conventional calcined coke. The market for medium sulfur trace amount calcined coke remained steady, reflecting sustained demand. The South Korean market observed moderate demand for Calcinated Petroleum Coke, while the supply remained stable, leading to a bearish trend during October in the market. This drop in value mirrored a broader trend in the Asian market, particularly in China, which serves as a significant supplier of Pet Coke to South Korea. The stable demand was due to the essential nature of the product for the downstream construction industry which kept the market unchanged during December to settle at 357 USD/tonne Calcinated Petroleum Coke CFR, Busan. However, the percentage change from the previous quarter was 4%.
Europe
European Pet Coke prices saw a two-month rise in October and November, driven by a confluence of factors. Overall, the consistent demand from the downstream construction industry and the tightening of tonnage supply played a pivotal role in supporting the price trend of the product. Overseas import costs, particularly from a 0.5% price hike in the US, played a key role. Additionally, a slight recovery in downstream construction nudged prices upwards, despite a stable domestic supply. However, December brought stability as a stark drop in new construction orders, attributed to a broader economic slowdown and inflation, balanced out the upward pressure. Ultimately, European Pet Coke prices stabilized in December, reflecting a delicate equilibrium between demand and supply, albeit in the face of persistent challenges in the construction sector and broader economic environment. The market situation for Belgium remained stable, with moderate supply and destocking activities affecting product pricing. The Euro to the United States Dollar depreciated in the 1st week of December, with a weekly incline of 1.09%, affecting currency fluctuations. The last quarter-ending price of Petroleum Coke Calcined FD Antwerp in Belgium for Q4 was USD 722/MT.
South America
The South American region witnessed mixed market sentiments during the fourth quarter with a monthly decline in November, while rebounded during December due to an expensive import from overseas and surging demand, along with new inventories entering the market among suppliers, kept the market situation strong. October witnessed the downstream construction sector experiencing stability in demand, but a decline in production and new orders indicated a resumption of contraction following a brief uptick during November subdued the sentiments. The Brazilian market has witnessed commendable consistency in product supply, facilitating smooth operations for businesses. The pricing dynamics of ground refined petroleum coke exhibited fluctuations, influenced by subdued downstream demand and moderate hoarding enthusiasm. This decline contributed to a more pronounced deterioration in operating conditions within the goods-producing sector, marked by contractions in output, new orders, employment, and stocks of purchases. However, Brazil heavily relies on imports from the USA for its Pet Coke supply, and changes in the US market often ripple into the Brazilian market. The latest price of Petroleum Coke Calcined Grade CFR Santos in Brazil for Q4 was USD 690/MT during December.
For the Quarter Ending September
North America
In the third quarter of , the North American Petroleum Coke (Pet Coke) market, particularly in the United States, faced a challenging period marked by a 2.7% decline in Pet Coke value. This downturn was influenced by a confluence of factors that drove the market into a bearish trend. Notably, the construction industry, a key consumer of Pet Coke, experienced sluggish demand, while the supply of Pet Coke remained relatively high, intensifying the pricing pressure. The Panama Canal drought situation created uncertainty and disrupted export demand, causing inventories to accumulate at ports. To address the growing inventory issue, traders adjusted their pricing strategies and offered Pet Coke at more competitive rates. Moreover, an ongoing labour shortage in the USA significantly impacted the construction industry's demand. The US Chamber of Commerce reported a national worker shortage, leading to more job openings than pre-pandemic levels while labor force participation rates remained below their pre-pandemic levels. This labour challenge further contributed to the subdued demand from the construction sector, making the third quarter a challenging period for the North American Pet Coke market.
Asia
During the third quarter of , the Asian Petroleum Coke (Pet Coke) market, particularly in China, exhibited dynamic performance. In the initial two months, the price of Pet Coke surged by 3.5%, primarily influenced by fluctuations in the global Crude Oil market. Concurrently, OPEC+ reduced oil production further due to supply concerns, surpassing expectations. Finished oil storage in the United States decreased, and port Pet Coke storage dwindled while refining Pet Coke inventory remained low. Domestic port Pet Coke inventory declined continuously, boosting demand. Imports of Pet Coke at ports decreased, and import traders were eager to ship goods. Port shipments remained swift, aiding in depleting Pet Coke stocks. Refined Pet Coke shipments were strong, and refinery inventory stayed low, with a focus on fulfilling early orders. Downstream demand remained robust, driving up refined Pet Coke prices. Some downstream entities adopted a cautious stance with elevated prices, leading to increased wait-and-see sentiment. The third quarter brought about a complex and fluctuating scenario in the Asian Pet Coke market, with various factors influencing the supply and demand dynamics.
Europe
In the third quarter of , the Eurozone Pet Coke market exhibited notable price fluctuations. Pet Coke prices experienced a steady increase in the last two months of the quarter, with Germany being particularly affected, registering price hikes of 0.5% and 1%. The primary driver of these increases was the costly import of Pet Coke from overseas markets. Furthermore, the surge in feedstock crude oil prices on the international stage added significant pressure, driven by reports from OPEC and the U.S. EIA projecting continued high demand and price escalation in the oil industry throughout the year. Consequently, production costs rose, impacting the overall Pet Coke price. While the downstream construction industry displayed moderate interest in Pet Coke, tight supply and low availability contributed to a sense of scarcity in the market dynamics. In the first month of the quarter, prices briefly declined by approximately 1.5% due to ample domestic supply and subdued demand. Macroeconomic challenges, including high inflation affecting consumer spending, further compounded the bearish sentiment, causing suppliers to offer their Pet Coke stocks at attractive prices.
South America
During the past quarter, the South American Pet Coke market witnessed a notable bearish trend. This trend was primarily driven by an increase in the product's price in the USA, a major supplier to Brazil, which relies heavily on imports. The Brazilian construction sector, a significant consumer of Pet Coke, maintained a steady demand while supply remained moderate. In the USA, Pet Coke prices surged due to a significant rise in the cost of its primary raw material, Crude Oil. This surge had a cascading effect on Pet Coke prices throughout the country. Concurrently, the construction industry in the USA exhibited signs of growth, aligning with the overall increase in economic activity. This increased demand added to the upward pressure on Pet Coke prices. Additionally, the U.S. Energy Information Administration (EIA) reported a substantial reduction of 10.6 million barrels in commercial crude oil inventories, excluding the Strategic Petroleum Reserve (SPR). This report contributed to the prevailing market dynamics. Overall, the quarter was marked by price fluctuations influenced by supply, demand, and Crude Oil prices in both the South American and US markets.
For the Quarter Ending June
North America
In the second quarter of , the Petroleum Coke market in the United States experienced a decline in prices. This drop in prices was mainly due to reduced demand from the construction industries, which faced challenges like a labour shortage and the US bank crises after some major banks failed. The reduced demand for construction products directly affected the prices of Petroleum Coke. In April , product prices remained stable at USD 740/MT, as the demand and supply were balanced. However, in May and June, the value of Petroleum Coke declined by approximately 13% and 9%, respectively. During the final two months of Q2 , the bearish trend was primarily a result of reduced demand for the product, coupled with an abundance of supply, which influenced the price trend. Additionally, the US Federal Reserve continued to raise interest rates by 0.5% in June to control inflation. The manufacturing sector was already in a recession as consumers shifted to spending on services, and this weakness spread to other sectors like construction. The Producer Price Index of Building Materials fell from 210.3 in March to 207.14 in June, further reflecting the market conditions.
APAC
During the second quarter of , the Asian Petroleum Coke market experienced a mixed sentiment in prices. In China, the price of Petroleum Coke witnessed declines, with decreases of around 8% in May and 8.7% in June, respectively. These reductions were driven by corresponding decreases of approximately 13% and 4% in the price of feedstock Coal in the Chinese market. In April , there was a notable increase of around 8.7% in the price of Petroleum Coke in China. This increase was a result of improved demand from the construction sector and a rise of 1% in the price of coal during that month. On the other hand, in the Indian market, the price of Petroleum Coke showed an upward trend, increasing by around 6% and 2% in the initial two months of the second quarter. The improved demand from the domestic market can be attributed to the government's focus on the construction and infrastructure sector, which led to increased demand for construction goods. Towards the end of the quarter, the price of Petroleum Coke in the Asian market remained stable at USD 52.04/MT. This stability was primarily due to the narrow gap between demand and supply, resulting in a balanced market situation.
Europe
In the second quarter of , the European petroleum coke market experienced a decrease in Pet Coke prices, influenced by several factors. Specifically, in Germany, the price of Pet Coke fell by 0.3% in April, followed by larger declines of 4% in May and 2.5% in June. The primary reason for this price drop was the low demand from the downstream construction industry. Additionally, high inflation had a negative impact on consumer spending, contributing to an overall bearish trend in the market. As a result, buyers were cautious and hesitant to purchase excess inventory, opting to acquire materials only as needed. Furthermore, a strike by dockworkers at the Port of Hamburg, which is Germany's busiest port and the second busiest in Europe, disrupted exports of petroleum coke and further added to the decline in price. The Germany Construction PMI fell to 41.4 in June , indicating a contraction in both activity and new orders. This contraction was driven by rising interest rates, customer uncertainty, and wider inflationary pressures. Additionally, employment fell as companies adjusted to lower workloads and the prospect of a prolonged slowdown in demand. By the end of the quarter, the price of Petroleum Coke Calcined CFR Hamburg (Germany) was hovering around USD 635/MT, reflecting the challenging market conditions and decreased demand in the region.
South America
In the second quarter of , the South American Petroleum Coke (Pet Coke) market had a negative trend. The price of Pet Coke went down by about 0.1%, 2.9%, and 1.5% in Brazil. This happened because cheaper imports from the USA and China became available as their Petroleum Coke prices dropped by around 13% and 9% respectively. Brazil experienced high inflation, but in June, it decreased to the lowest level since September . The country's economy also grew at a slower pace, with a yearly expansion of 3.16% in June compared to 3.94% in May, as predicted by the market at 3.17%. During the same time, freight charges from the West Coast to Brazil, Asia, and Europe decreased influencing the Pet Coke market in Brazil. This happened because West Coast ports and dockworkers reached a new six-year agreement, ending a period of uncertainty. This agreement resolved uncertainties at 29 ports from California to Washington State. By the end of this quarter, the price of Petroleum Coke Calcined Grade CFR Santos (Brazil) was hovering around USD 723/MT.
For the Quarter Ending March
North America
The price of Petroleum Coke (Pet Coke) in the American market declined in the first month of this quarter due to the slow demand from the construction sector, as labor shortage was the biggest challenge for the construction sector. In the last two months of this Q1, the price of Petroleum Coke increased as in the second month of Q1 European Union imposed sanctions on Russian petroleum products which, including Petroleum Coke it, took effect to curb Moscow's revenues from energy exports. Due to these sanctions, the demand for Petroleum Coke Shifted from Russia to the United States. Additionally, the demand from the downstream construction sector also started rebounding after the first month of this quarter. During the first month of Q1 , the supply was high for the commodity, whereas, in the second and third months of Q1 , the supply was moderate. Additionally, the price of feedstock Crude Oil decreased in this quarter.
APAC
Q1 experienced a decline in the price of Petroleum Coke in the Asian market, triggered by low demand from the construction sector. In particular, the Chinese and South Korean markets were impacted by the Chinese Lunar New Year festivals, as offices and factories in China were closed for approximately three working weeks. This allowed workers to travel back home to spend the holiday with their families, resulting in low demand for the product. South Korea primarily imports its Petroleum Coke from China; thus, the price decline in China had a corresponding effect on the price of the product in South Korea. Nevertheless, India witnessed an increase in the commodity's price, as Q1 saw improved demand for the product from the construction sector. The Indian government focused on infrastructure during this period, leading to a surge in demand.
Europe
During the first month of Q1 , the price of Petroleum Coke in the European market declined due to a decrease in demand from the downstream construction sector. Construction activities had come to a halt due to the high inflation rate, which reduced the purchasing power for the commodity. However, in the second and third months of Q1 , the European Pet Coke market observed an increase in demand from the downstream cement and construction industry. With the arrival of summer and the end of winter, the construction sector started to improve. In the last month of Q1 , the supply of Petroleum Coke in the European market was affected by a labor strike at the Port of Hamburg, Germany. The port is the busiest in the nation and the second busiest in Europe, and the strike resulted in a decrease in supply, causing prices to increase.
For the Quarter Ending December
North America
The price of Petroleum Coke (Pet coke) in the American market increased at negligible margins for the first two months of Q4 . The steady performance of the downstream construction sector in the US is the primary reason for the almost stable price trend during the start of the fourth quarter of . The rising of upstream crude oil prices abetted the increasing price trend of PET Coke in the USA. During the final month of Q4 , Pet Coke prices decreased in the American market primarily due to the year-end destocking in the US and the poor demand scenario during the festive season.
APAC
For the first two months of Q4 , Petroleum Coke (Pet coke) pricing in the Asian market climbed by significant margins. The main cause of the nearly unchanged pricing trend at the beginning of the fourth quarter of in the Indian market is the downstream construction industry's consistent performance. The price trend for PET Coke in Asian markets increased due to growing upstream crude oil prices during the fourth quarter of . Pet Coke prices declined with low margins in the Asian market during the last month of Q4 , mostly as a result of year-end destocking in Asia and weak economic conditions in one of the biggest importing markets like China.
Europe
The prices of Petroleum Coke (Pet coke) in the European market decreased during the start of the fourth quarter of as high energy costs and expensive construction materials are decreasing the procurement attitude of the downstream construction sector. During mid-Q4 , the European markets witnessed a price rise of Pet Coke due to the increasing price trend of upstream crude oil in the domestic markets. Pet coke prices further dropped during the last month of the final quarter of due to the destocking activities happening during the year-end, declining demand from the construction sector during the festive season, and high energy costs.
For the Quarter Ending September
North America
The prices of PET Coke during the third quarter in the US market decreased throughout the months with a slight decrease on a monthly basis. The price decrease between months was very low, almost maintaining a stable price trend throughout Q3 . The reason behind the stable price trend in the American market was the rising price of upstream crude oil in the global market due to the disruption caused by the Russia-Ukraine war, which was countered by the demand drop in the downstream construction sector in the US market. The construction sector performed poorly on the back of expensive construction materials in the American market, decreasing the demand throughout Q3 . The price of PET Coke in the US during the end of Q3 was recorded at around USD 735/MT.
APAC
The prices of PET Coke in the Chinese market witnessed a dropping of prices throughout the third quarter, especially at the beginning of the quarter. The price drop can be directly traced to the decreasing price trend of upstream Crude oil in China. Crude oil prices in China dropped due to cheaper imports from Russia due to the west&#;s embargo on Russian oil and gas imports. The poor performance of the downstream construction sector in China due to severe heat waves and Covid restrictions in a few cities further weakened the demand for PET Coke in China. The price of PET Coke at the end of the third quarter in the Chinese market was recorded at around USD 600/MT.
Europe
In the third quarter of , PET Coke prices in the Europe market fell over the course of the months, with a modest monthly decline. The price drop between months was so minimal that it nearly presented a stable price trend throughout Q3 . The rise in upstream crude oil prices on the worldwide market as a result of the disruption brought in by the war in the East European region was the source of the stable price trend in the US market, which was offset by a decline in demand in the downstream construction industry. Due to the high energy costs in the European market, which reduced demand throughout Q3 as the construction industry underperformed. At the end of Q3 , the price of PET Coke in Germany was recorded around USD 671/MT.
For the Quarter Ending June
North America
The Petroleum Coke (PET Coke) price constantly decreased in the United States of America during the second quarter after April . The price during the end of Q2 of PET Coke in the American market was around USD 379/MT Petroleum Coke Calcined Grade FOB USGC. The price hiked during April's supply disruption because of the ongoing war between Russia and Ukraine. The cost of rising alternate fuel coal was costlier due to the ban on Russian coal, which allowed the price of Pet Coke to grow. Post-April, the increased refinery run rates to export Natural gas to European countries increased the byproduct of PET Coke products and abetted the declining trend of PET Coke price in America during Q2 .
APAC
The Petroleum Coke price in the Chinese market witnessed a steady decline throughout the second quarter of . The primary reason behind the declining cost of PET Coke in the country was the cheap supply of upstream crude oil from Russia. Due to the ban imposed by western countries (the US and several western European countries) on importing Russian crude. Russia had to find alternate importers for its oil, and China is among its new major importer. In the Indian market, PET Coke prices start decreasing mainly post-April due to poor demand from the downstream cement industry due to poor construction activities during the onset of monsoon season. At the end of Q2, , the prices were recorded at INR /MT and USD 540/MT in the Indian and Chinese markets, respectively.
Europe
The European market had a similar price trend for Petroleum Coke (PET Coke) to that of the American market during the Second quarter of . The supply disruption caused by the conflict between Russia and Ukraine raised the prices of PET Coke in Europe in April , but as buyers backed off due to the soaring cost in the domestic market, the price trend started to turn around. High energy prices in the continent and costly construction materials in Europe affected the construction activities in the region. The dampened construction activity brought down the demand for downstream cement, ultimately driving the price of PET Coke in Europe post-April . The price of PET Coke in the German market during the beginning of the second quarter was recorded at around USD 815/MT.
For Quarter Ending March
North America
The price trend of pet coke in the American market for the first quarter of traded around USD 736/MT during Q1 of . The rise of the prices can be traced to the ban on Russian oil by the US and EU. Unlike Europe, the United States do not depend on Russia for their oil. However, the increased demand for Pet coke in Europe puts pressure on American exports and contributing to the increase in price of pet coke in America. The nuclear deal with Iran deepened the limitation of upstream crude oil supply to America from the OPEC countries which led to rising price of PET coke in the American market during Q1 of .
Asia
In the Asian market, Pet coke witnessed an upward trend during the first quarter of . Various Chinese industries switched to Pet Coke as a feedstock since the alternate feedstock coal prices were very high leading to the demand and price rise of Pet coke. In China Pet coke was traded at USD 679 /MT during Q1 of . In the Indian Market the price of Pet Coke was rising steadily throughout the first quarter of due to increased production of downstream aluminum industry owing to the demand from the electronic sector. The high price of upstream crude oil in the Asian market in general led to higher pet coke prices across the Asian market during the first quarter.
Europe
All crude oil and its derivative product&#;s prices in Europe have been increasing due to high dependency of Russian oil on various European countries. So due to the high upstream crude price and disrupted production on account of the energy crisis in various refineries affected the availability of pet coke in Europe during the first quarter of . The demand from the downstream cement industries were rising during Q1 in Europe owing to well performing home improvement sector in Europe. The OPEC countries were not taking any effort to meet the European oil needs, abetting to higher pet coke prices in Europe during &#;s first quarter. USD 715/MT was the price of pet coke in the European market during the end of Q1 of .
For the Quarter Ending December
North America
Demand for Petroleum coke had seen a surge in the second half of FY21 owing to a shortage in supplies of Coal in Asia which led to an increase in export prices of coal. The discount of petroleum coke to coal had however began narrowing down by mid-November as the coal prices started to lower in China, thanks to a government intervention. The November end prices of 6.5% Sulphur Petroleum Coke were being quoted at a discount of 9.5% to API4 coal down from 37% in October on an FOB USGC basis. The prices however rebounded in the month of December as winter demand for energy is usually higher in North America and Europe which causes energy prices to increase. The outlook for Q1 of FY22 remains optimistic as the winter demand for coal is likely to increase the premium at which it is sold to petroleum coke thus spurring demand.
Asia
The Asian petroleum coke market had seen a continuous rise in prices for the entire second half of FY21 with Chinese prices of calcined coke increasing by 20% Ex-Shanghai on a quarterly basis from Q3 to Q4 of FY21. India too followed a similar trend with prices of calcined coke increasing by almost 90% from Q3 (calendar year) to Q4 (calendar year) assessed on a CFR Visakhapatnam basis. Prices of Non-Calcined petroleum coke too had witnessed a surge with average prices quoted 120% higher than the previous quarter. This sharp hike in prices was due to the impending coal crisis that was ubiquitous throughout China and South Asia for the most part of Q4 forcing cement and metallurgical industries to opt for petroleum coke as an alternative. The trend for the next quarter is likely to remain the same as there had been no signs yet of prices mellowing down across Asian markets.
Europe
European petroleum coke market too had seen a gradual waning of the discount to API2 coal by November&#;s end as the discount of petroleum coke on a CFR ARA basis narrowed to 9.5% from 15% in October. The prices of 6.5% Sulphur petroleum coke assessed on a CFR ARA basis decreased by 6% over the last week of November and stood at 176 USD/Mt. The reversal in trend was however short lived as prices started to increase from the second week of December as energy demand rises in Europe during the peak winter season thus causing the prices of coal to increase. Petroleum coke becomes the preferred substitute when the discount to coal is higher than 15% in the European region. The outlook for Q1 of FY22 is likely to reflect the market sentiments of North America which is the main source of Europe&#;s imports for petroleum coke.
For the Quarter Ending September
North America
In the third quarter of , Petroleum Coke experienced an uptrend in its prices backed by the volatility in the prices of upstream crude oil. Moreover, in August end, most of the oil and gas refineries along the Gulf Coast of USA shut down their plants ahead of hurricane Ida as a part of contingency plan which directly pushed the prices of Petroleum Coke in Q3. Besides, several refineries curtailed their production supported by the reduced consumption of jet fuels owing to covid pandemic situation. In addition, Soaring freight cost and supply chain disruption caused by Ida hurricane exacerbated the crises, causing an unprecedented rise in prices. Thus, FOB-US monthly average prices of Petroleum Coke were accessed at USD 515/MT in September witnessed a hike of USD 45/MT since July.
Asia
In Asia, Pet Coke market reported mixed sentiments in the third quarter of . At the beginning of the quarter, prices of Petroleum Coke dropped due to the rise in the production rates and improvement in the import activities. However, in the later half of the quarter, an unprecedented rise in the values of Pet Coke was observed backed by several factors including the arrival of hurricane Ida in US Gulf Coast and the congestion on the several ports in China. In India, due to the supply chain disruption caused by Ida hurricane and congestion on China ports led to the supply shortage of the product that consequently fumed the prices of Pet Coke in Indian market. Thus, in India, the price of Pet Coke stood at USD 188.36/MT in September showcasing a marginal increment of USD 22.41/MT since July.
Europe
In Q3 , European market outlook witnessed an upward trajectory in the pricing of Petroleum coke backed by the low production rates and the robust demand from the downstream manufacturers. In addition, the rise in the prices of feedstock crude oil and the excessive freight charges across the Europe-Asia and Europe-US interoceanic trade routes contributed to the inflation in the pricing trend of Petroleum Coke in Europe. Due to the impact of Ida hurricane, the crude oil production had struggled to recover during this timeframe that led to the scarcity of Pet Coke in the regional market as Europe imports most of the Pet Coke from USA. CFR Hamburg Pet Coke prices stood at USD 504/MT in September observed a hike of USD 49/MT since July.
For the Quarter Ending June
North America
Petroleum Coke prices followed an upward rally this quarter again, backed by recovering demand and consistent supply tightness across the region. Continuous price increment in price was observed in USA due to lower availability against firm demand pattern. Winter devastation during February and soaring freight cost also exacerbated the crises, causing an unprecedented rise in prices. Downstream producers were heard opting for cheaper alternatives than Pet Coke, however USA export to Brazil remained high in the meantime. Therefore, prices of Pet Coke were accessed at USD 430/MT for calcined grade in USA during final week of June.
Asia
Asian market witnessed bearish offtakes for Pet Coke during this quarter, due to overall market dullness amid infirm demand and adequate availability. In China, prices of Pet Coke followed a downward trajectory in mid-May. On the other hand, in India, prices of Pet Coke fell sharply till the May end, and later rebounded effectively in June. This price fall was supported by significant fall in demand from cement manufacturers amid resurgence of the pandemic in the country. In addition, due to huge rise in USA Pet Coke prices, Asian manufacturer were heard switching to cheaper alternatives from Australia. Thus, the price of Pet Coke hovered around USD 220/MT for Non-Calcined Pet Coke in India during June end.
Europe
Firm sentiments for Pet Coke were observed in the European market, supported by modest to firm demand from downstream manufacturers. Amidst stable demand scenario after sufficient economic recovery from the pandemic, supply remained tight for Pet Coke in the regional market. While imports from USA were very expensive in the meantime due to soaring freight cost and congestion across major trade routes. Therefore, overall hike in price of Pet Coke observed during Q2 .
For the Quarter Ending March
North America
North American winter storm affectively chocked the production of Petroleum Coke across the region as manufacturers faced various hurdles in operating their plants in such weather conditions. Thus, the winter storm led several plants or refineries to kneel down and settle the production to almost zero. It was estimated that, due to the storm more than 50,000 tonnes of production got hampered which supported its prices rigorously, and the prices rose from USD 205 (January ) to USD 220 per MT (March ). Till March end positive optimism started hovering with restart of several plants across the region.
Asia
In the Asian market, Pet Coke prices as well as the demand varied across different countries, as in India demand for Petroleum Coke was deemed high, on the other hand, in China, it remained low. In Chinese market, demand for Petroleum Coke remained low from the steel manufacturing sector, and amid stable supply, prices dropped effectively, in the quarter Q1 . Meanwhile in India, high demand from cement manufacturing sector supported the prices of Petroleum Coke throughout the quarter, which affected the retail cement prices in India. Several Petroleum Coke giants increased their prices e.g., RIL (Reliance Industries Ltd) increased its Petroleum Prices roughly from around USD 125 per MT to USD 150 per MT within the quarter.
Europe
The European market witnessed a boom in exports for Petroleum Coke, especially from Asia. As the North America region remained chocked in terms of production as well in exports due to the freezing storm, meanwhile Europe fetched the opportunity to grab its market for this quarter. However, Suez Canal crisis during March end, temporarily hampered the exports. Before this crisis, container shortages were already in existence but during Suez Canal crisis, freight charges also increased effectively.
For the Quarter Ending December
North America
With the consistent increment in prices of the feedstock crude oil, Petroleum Coke prices in the US took an uptrend later in the Q4 . The demand for Petroleum Coke in the region has increased compared to Q3 , and the prices of non-calcined Petroleum Coke were traded between 60-72 USD/ MT. While green Petroleum Coke prices registered an upward trend and are traded between 67-73 USD/MT. The margin on Petroleum Coke have improved and the demand is surging from domestic and export market. The refineries with higher Nelson Complexity Index registered a healthy demand and higher profit margin due to rise in prices of sweet crude, while the sour crude prices gain momentum marginally. The prices of Petroleum Coke are anticipated to increase in coming months due to rising demand from the region and end use industry.
Asia
Demand for Petroleum Coke in the Asian market exhibited strong growth in Q4 compared to Q3 . The demand has increased from cement industry due to ongoing construction activities in South East Asia especially China, Vietnam and India. The prices of calcined and non-calcined Petroleum Coke were traded at 200-240 USD/MT and 62-76 USD/MT depending on the quantity and proximity from the import location. The market sentiments have improved in Q4 , owing to increase in construction activities and rising demand from steel, cement and aluminium Industry. The prices of Petroleum Coke are anticipated to remain stable in Q1 due to balance in demand and supply scenario.
Europe
Demand for Petroleum Coke in the European market remained firm. Exports from Phillips 66 Company plant located in United Kingdom have increased due to weak demand in the country. Further, majority of exports are shipped to APAC countries. The prices of Petroleum Coke in European region differ due to mixed demand across the region. The price of Petroleum Coke HSR grade was traded between 340-416 USD/MT, while HSP grade was traded around - USD/MT. The prices have improved by 3-5 percent compared to Q3 . The demand from European region is anticipated to increase in coming months and prices of Petroleum Coke are expected to increase due to rise in crude oil prices across the globe.
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