After entering May, as China's refinery units were shut down for maintenance and the impact of reduced supply, the mentality of the operators in the market was improving. Coupled with the support of downstream market replenishment and smooth shipments, manufacturers 'prices continued to increase, but the good times did not last long. After the early increase in coke prices, the enthusiasm of some downstream to receive goods has weakened. With the restart of early maintenance units and the impact of increased supply, market transactions have cooled down.
In 2023, China's refineries will delay the maintenance of coking units less than last year, and some refinery parking markets will have shorter periods. There is no obvious gap in overall market supply. According to Tuduo's data, from January to May 2023, China's local refining market The total output is about 12 million tons, and the market inventory in the port area continues to reach high levels. With the arrival of imported cargo and limited follow-up of downstream demand, the shipment speed in the port area is relatively slow. As a result, market inventories in the port area continue to increase. As of June 2, the total inventory in the port area has increased to 5.5 million tons, and China's supply has always remained abundant.
At present, after entering June, there are still equipment with parking plans. However, at the same time, the early maintenance equipment is gradually returning, and the supply performance of the Chinese market is still abundant. With the arrival of imported coke, port stocks may still remain high. However, the increase in downstream demand is limited, the steel carbon market continues to be weak, and the aluminum carbon market enters the market cautiously, making it difficult to increase significantly on the demand side. It is expected that the short-term petroleum coke market price will fluctuate within a narrow range under the influence of weak supply and demand. In the later stage, we also need to pay attention to the operation of equipment on site and the follow-up of downstream demand.
