1)Raw materials
The Russian Ukrainian war magnified the sharp fluctuations in the crude oil market. Under the background of low inventory and lack of global surplus capacity, perhaps only the sharp rise of oil price will curb demand. Due to the fluctuation of crude oil market, the prices of domestic petroleum coke and needle coke have increased in turns.
After the festival, the price of petroleum coke rose three or even four times. As of press time, the price of raw coke of Jinxi Petrochemical was 6000 yuan / ton, up 900 yuan / ton year-on-year, and that of Daqing Petrochemical was 7300 yuan / ton, up 1000 yuan / ton year-on-year.
Needle coke showed two consecutive increases after the festival, with the largest increase of oil needle coke up to 2000 yuan / ton. As of press time, the quotation of oil needle coke cooked coke for domestic graphite electrode was 13000-14000 yuan / ton, with an average increase of 2000 yuan / ton year-on-year. The price of imported oil-based needle coke is 2000-2200 yuan / ton. Affected by oil-based needle coke, the price of coal-based needle coke has also increased to a certain extent. The price of domestic coal-based needle coke for graphite electrode is 11000-12000 yuan / ton, with an average monthly increase of 750 yuan / ton year-on-year. The price of coal needle coke and cooked coke for imported graphite electrode is 1450-1700 US dollars / ton.
Russia is one of the three largest oil producing countries in the world. In 2020, Russia’s crude oil production accounted for about 12.1% of the global crude oil production, mainly exported to Europe and China. On the whole, the duration of the Russian Ukrainian war in the later stage will have a great impact on oil prices. If it changes from “Blitzkrieg” to “sustained war”, it is expected to have a sustained boost effect on oil prices; If the follow-up peace talks proceed smoothly and the war ends soon, the previously pushed up oil prices will face downward pressure. Therefore, oil prices will still be dominated by the situation in Russia and Ukraine in the short term. From this point of view, the later cost of graphite electrode is still uncertain.
Post time: Mar-04-2022