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.
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.
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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