Petroleum Coke Price Trend and Forecast
North America
The Petroleum
Coke Prices 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 2022. 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 2022. The
price of PET Coke in the US during the end of Q3 2022 was recorded at around
USD 735/MT.
Asia
The Petroleum Coke Prices 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 2022,
Petroleum Coke Price 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 2022. 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 2022 as the construction industry
underperformed. At the end of Q3 2022, the price of PET Coke in Germany was
recorded around USD 671/MT.
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