Analysis

• India posts double-digit growth year-to-date through October
• Spain´s petcoke production boosted by rising demand
• China with a marginal increase in production as refineries return to full capacity

Greenwich (CT), USA, January 24, 2023 – Global petroleum coke production reported a yearly rise in several key markets during the first ten months of 2022, according to CW Research’s CW Research's PetcokeWeek Market Data.

“Year-to-date through October, global petcoke production saw an increase on the back of robust growth accumulated mostly in the first three months of 2022, before the effects of the Russia-Ukraine conflict started disrupting the industry”, explained Wanderson Teixeira, Business Analyst at CW Group.

US production remains steady as refiners keep prices low

In October 2022, green petcoke production in the US posted a month-on-month rise of less than 1 percent, while year-on-year, production improved by almost 6 percent. For the year-to-date through October, green petcoke production was up by nearly 7 percent. US production has remained steady in the past few months, and refiners are avoiding the accumulation of excessive stocks by reducing the price of their products to keep short-term customers within their price range.

Growth in demand leads to a rise in Spain's petcoke production

Green petcoke production in Spain declined by almost 6 percent month-on-month in October. Compared to the same period in the previous year, production increased by over 60 percent. In the first ten months of 2022, green petcoke production reported a nearly 17 percent increase, after an extremely tumultuous period during the early stages of the pandemic.

China with marginal growth in petcoke production

In October 2022, green petcoke production in China posted a month-on-month growth of over 8 percent, while year-on-year, production weakened by less than 1 percent. In the first ten months of the year, green petcoke production was marginally up by almost 1 percent year-on-year as refineries gradually returned to full capacity.

Brazil posts rise in petcoke output as industry recovers

Green petcoke production in Brazil posted a month-on-month growth of more than 15 percent in October. Compared to the same period last year, green petcoke production dropped by around 14 percent. During the first ten months of the year, total output was up by over 3 percent compared to the same period in 2021. The civil construction sector has been showing signs of recovery after suffering a period of severe decline as a result of the pandemic.

Japan sees a significant increase in production

In October, green petcoke production in Japan posted a month-on-month decrease of more than 30 percent, whereas year-on-year green petcoke production fell over 25 percent. For the year-to-date through October, production was up by around 30 percent.

India´s petcoke production show an impressive increase year-to-date in October

In India, green petcoke production in October was down by close to 2 percent compared to the previous month of September. In comparison to the same period last year, production dropped by more than 1 percent. In the first ten months of the year, green petcoke production was up by around 16 percent year-on-year, boosted by a very strong performance reported between January and March, with production rising more than 25 percent.

CW Research’s PetcokeWeek Market Data covers monthly petroleum coke volume trends across the world. The service provides data and statistics on monthly demand and supply volumes for the largest petcoke producing and consuming markets around the world. Presented in an objective, easy-to-understand format, the PetcokeWeek Market Data is an indispensable tool for producers, suppliers, traders, investors, and end-users that need to quickly understand developments in the world petcoke markets.

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