Petroleum Coke Price | South Korea — Q4 2023
Check how the Petroleum Coke price evolved in South Korea, from Q4 2022 to Q4 2023.
The Petroleum Coke price in South Korea increased during Q4 2023 to 319 USD per metric ton, which represents a considerable rise of 19% compared to the previous quarter’s value. On a year-over-year basis, Petroleum Coke prices in South Korea increased by 76%.
The chart below shows quarterly Petroleum Coke prices, in USD per metric ton in South Korea and other selected countries in Northeast Asia.
For further information on the pricing of Petroleum Coke, including:
- Current prices, on a quarterly basis
- Historical pricing data since 2007
- Short-term Price Forecasts
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A Little Bit About Petroleum Coke
Petroleum Coke is a solid, carbon-rich material, derived from crude oil refining. More specifically, coke is a bottom of the barrel by-product, result of the end of the cracking process. It is usually distinct in two varieties: fluid coke and flexicoking coke. Fluid coke, or green coke, is obtained from delayed cooking processes. On the other hand, flexicoking is fine grained, with a great level of isotropy. There is also calcinated coke, which is a product of green coke, after above 1300 °C heating. Some Petroleum Coke trades may occur in the spot market, in which the commodity can be purchased for immediate delivery. The production of Petroleum Coke grew tremendously in the middle of the twentieth century, since petcoke became intensive marketed as a petroleum product in its own right. By country, the United States and China are the largest producers worldwide, followed by South America, Canada, India, Middle East, and Western Europe. Currently, more than 70% of the produced coke is of the green type.
Petroleum Coke in bulk quantities is stored in piles. It is necessary to maintain optimal moisture content and control fugitive dust emissions during storage. This can be done by pile height and compaction control, wetting with water — by water cannons, water trucks, or sprays — and treatment with anti-dust agent.
Petroleum Coke is used mainly as fuel, especially in applications that require very high temperatures like metallurgy (cheap fuel for cement industry) or in electricity generation. It is also used as a component of electrodes. This commodity can be used in the manufacture of derivatives, such as: ammonia; molded carbon; coke oven gas; metallurgical coke; copper; silicon carbide; calcined sponge coke; synthesis gas.
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