With the upward trend in the market towards the end of 2024, the petroleum coke market also entered its most active phase in nearly two years starting from October. This year, our company has been actively expanding the market and imported 300,000 tons of petroleum coke.

Currently, the mainstream coke prices in the Chinese petroleum coke market are stable with an upward trend, while the prices at terminal refineries fluctuate. The prices of low-sulfur coke are stable with an upward trend, and the sales at refineries are smooth. The inventory of PetroChina in the northwest region has remained at a low level. The enthusiasm of negative electrode enterprises for purchasing is high, and the sales at refineries are good. CNOOC's transactions have been stable in the past three months, and refineries have been fulfilling order contracts. The trading of petroleum coke at local refineries has stabilized, and refineries have been actively selling, with stable demand for indicator products. The price increase of pre-baked anodes is higher than expected. Supported by the procurement of negative electrodes and the downstream's essential demand, it is expected that the prices at refineries will mainly remain stable with an upward trend. Regarding imported petroleum coke, as some refineries in Indonesia, Argentina, and Brazil resume operations and start shipping in 2025, the domestic low-sulfur market is expected to face certain impacts. It is predicted that multiple shipments of imported coke will enter the domestic market at the beginning of 2025, and the port inventory will increase.