According to the commodity analysis system of Shengyi Society, the market for locally refined petroleum coke has continued to rise recently. As of November 3, the price of locally refined petroleum coke in the Shandong market was 2845.75 yuan/ton, an increase of 1.88% from 2793.25 yuan/ton on October 27.
Recently, international crude oil prices have risen slightly. Due to the decline in commercial crude oil inventories in the United States and the positive signals released by the results of economic and trade negotiations between China and the United States, the United States may take action against Venezuela and increase supply risks, leading to an increase in international oil prices.
Recently, the market for refining petroleum coke has continued to rise, with active shipments from refineries. The price of petroleum coke has fluctuated in recent times. Recently, some refineries have adjusted their indicators, and coke prices have shown significant changes with the indicators; Downstream procurement is active, supporting the petroleum coke market, and refinery shipments are still acceptable. Recently, the inventory of petroleum coke in ports has continued to decline, and some imported petroleum coke sources are tight. Traders have suspended quotations, and sponge coke prices have risen, resulting in good market trading.
Recently, the market for medium sulfur calcined coke has risen, and the price of raw petroleum coke continues to rise. The cost of calcined coke is under significant pressure, and downstream procurement is cautious.
Future forecast: Currently, the shipment of refined petroleum coke is good, and the inventory of petroleum coke in ports continues to decline; In addition, the benchmark price for pre baked anode procurement increased in November, and downstream carbon enterprises and negative electrode material markets actively stocked up, which is favorable for the petroleum coke market. It is expected that the petroleum coke market will continue to rise in the near future.

In October, the asphalt market experienced a wide decline, with a small number of projects in Shandong terminal rushing to complete, mainly consuming low-priced resources and urgently needing to obtain goods. According to monitoring data from Shengyi Society, the ex factory price of heavy-duty asphalt # 70 in Shandong Province was 3583 yuan/ton on October 1st, and as of October 31st, the ex factory price in Shandong Province was 3223 yuan/ton, a decrease of 10.05%.
The cost side had an impact on the asphalt market situation in the first half of the year. Crude oil continued to decline after the holiday, with a drop of 11% on the 22nd. It stopped falling and rose in the second half of the year, but the market briefly retreated due to demand and contracts continued to decline. On the supply side, since September, there has been ample supply, and the overall operating level of asphalt production facilities in China remains at a medium high level. Most local refineries maintain a high level of production enthusiasm, resulting in increased supply pressure in the near future. The mid week asphalt production was about 550000 tons, a slight decrease of 11000 tons compared to the previous week and an increase of 140000 tons year-on-year.
In terms of demand, as the weather improves in Shandong, projects are gradually coming to an end, mainly relying on low-priced goods. Nationwide, as temperatures drop in the northwest region, projects are coming to an end and demand is hindered. In the northeast region, due to the narrowing of construction windows and traders’ price reductions and promotions, the price advantage of social storage resources is becoming apparent, coupled with the support of rush work demand, and the process of destocking is accelerating.
From the perspective of Shengyi Society, the recent release of November delivery contracts in Shandong region has led to a bottoming out of prices. With the decrease in temperature, the demand in the north has decreased, and the demand in the south has been supported by the urgent need. In the short term, we will pay attention to the impact of crude oil on the asphalt market.

According to the monitoring of the commodity market analysis system of Shengyi Society, as of October 31st, the price of lead 1 # was 17256 yuan/ton, a slight decrease of 0.43% from the lead price of 17330 yuan/ton on October 27th.
This week’s market analysis
In terms of futures, the Shanghai lead market is currently showing a fierce game between long and short positions in the short term. From a technical analysis perspective, the Shanghai lead price has successfully broken through the key pressure level of 17400 yuan/ton. If it can firmly stand above this price level in the future, it is expected to further challenge the 17500 yuan/ton mark.
supply side
Recently, the resumption of production in refineries has continued to show a slow trend, which has led to a certain degree of improvement in the tight supply situation in the market, but the overall relief is extremely limited.
demand side
Against the backdrop of sustained high lead prices, some battery companies currently have high inventory levels due to sufficient procurement in the early stages. At the same time, these enterprises are concerned about the future trend of lead prices, fearing the risk of a downward trend in lead prices, which could lead to adverse effects such as inventory depreciation. Based on these considerations, these battery companies have recently formulated plans to suspend production for 3-5 days to avoid potential market risks.
comprehensive analysis
The progress of resuming production in refineries is relatively slow. However, in the high lead price market environment, some large battery companies have chosen to concentrate production shutdowns to cope with the pressure. At the same time, the price difference between spot prices and futures prices remains high, and merchants holding goods choose to deliver, which to some extent alleviates the liquidity risk in recent months. Under the market pattern of increasing supply and decreasing demand, the temporary supply-demand mismatch in the lead market is expected to improve, and lead prices are expected to make a slight adjustment at a high level in the short term.