Dalian holds online auction of petcoke, a first in China

CNPC's Liaohe branch recently sold 120 tons of calcined petroleum coke at a premium of 120 yuan ($17.99) per ton through an online bidding at the Dalian Petroleum Exchange.

Calcined petroleum coke, also known as petcoke, is a by-product of refining crude oil and a critical ingredient in the production of aluminum. The transaction marked the first online auction of petcoke in China.

The deal was also a remarkable breakthrough for Dalian Petroleum Exchange, which is situated in the Dalian Free Trade Area, as the first online petrochemical trading platform in Northeast China.