Analysis of China's petroleum coke market in 2023 and forecast for 2024
By the end of 2023,China's delayed coking capacity has reached 148 million tons per year.In 2023,China's petroleum coke production reached 31.73 million tons,with state-owned refineries accounting for 57%of the production and local refineries accounting for 43%,mainly composed of high sulfur coke,accounting for more than 80%.In 2023,China imported 16.02 million tons of petroleum coke and exported only 190 thousand tons,with a net import volume of 15.83 million tons.The apparent consumption of petroleum coke in China reached 45.16 million tons.Although the overall price of petroleum coke in China is on the rise,the price of petroleum coke in China plummeted in 2023 compared to the previous year.It is expected that China's domestic production of petroleum coke in 2024 will reach 31.5 million tons,with a net import volume of 14 million tons,a decrease of 2 million tons in inventory,and an apparent consumption volume of 4.75 million tons.Petroleum coke,as one of the characteristic refining products of"reducing oil and increasing specialty",has limited impact on regulating the domestic refined oil market.It is suggested that production enterprises should take active action to expand their customers'scope related to negative electrode material together with dynamic demand in the Chinese market,and flexibly adjust their production and sales strategies according to their quantity and quality needs.
petroleum cokeproductionconsumptionsupply and demandimport and exportpricedevelopment trends