China's petroluem coke market movement in the Q1 of 2017

Petroleum coke output in the first quarter of 2017 was 7.13 million metric tonnes, up by 0.9% M-O-M and 8.53% Y-O-Y. From perspective of component data,  Chinese production have increased from January to March, among which the the largest increase occurred in January, up by 8.53% Y-O-Y.

Judging from the specific group component data, local refineries increased considerably while state-owned plants increased moderately. In the first quarter, the average operating rate of coking units in Shandong Province was 62.36%, up by 6.82% Y-O-Y. As a consequence, the increase of operating rate will directly increase the output of petroleum coke.

In the first quarter of 2017, total imports of petroleum coke was 136.27/mt, up by 50.62% Y-O-Y. Viewed from monthly data, Petroleum coke imports remained at a reasonable level in January and February, but  imports suddenly increased in March, up by 82.96% Y-O-Y.

From the view of specific customs data,  imports from the United States increased significantly, and the Nanjing Customs topped the volume, the main reason is that imported coke traders added orders in fourth quarter of 2016 and first quarter of 2017 due to great demand in Chinese petroleum coke and coal market, while there were 2-3 months lag phase from USA to China, so petroleum coke imports has increased greatly in March. ECPRAMS predicted that petroleum coke imports will remain at such a high level in the next second quarter.

In the first quarter of 2017, petroleum coke exports were only 16.25/mt, down by 18.3% Y-O-Y. From perspective of  monthly data, the export volume was lowest in February due to continued hot sales in Chinese market.

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