【Needle Coke】 Positive Market Atmosphere, 

Slight Increase in Operating Rates

1. Market Overview

As of June 24, 2024, the Chinese needle coke market remains stable. The price range for domestic raw needle coke is 5,000-5,400 yuan/ton, and for calcined needle coke, it is 6,500-8,200 yuan/ton. The mainstream transaction price for imported petroleum-based raw needle coke is 500-1,200 USD/ton, and for calcined needle coke, it is 800-1,300 USD/ton. The mainstream transaction price for imported coal-based calcined needle coke is 800-1,000 USD/ton. The average market price for domestic needle coke is 7,547 yuan/ton, stable compared to the previous working day. Currently, the atmosphere in the Chinese needle coke market is positive, with a slight increase in operating rates. A coal-based company in Henan resumed raw coke production in mid to late June, primarily for its own use, while other companies maintain stable production. As of now, the operating rate for petroleum-based needle coke is 38.52%, and for coal-based needle coke, it is 1.92%.

2. Market Prices 

3. Upstream Market

Oil Slurry:

On June 24, oil slurry prices were stable to slightly adjusted by 0-10 yuan/ton. The mainstream price range for medium to high sulfur oil slurry is 3,450-4,200 yuan/ton, and for low sulfur oil slurry, it is 4,000-4,910 yuan/ton. International crude oil prices closed lower, with bearish guidance from the news, but current downstream market demand remains stable, and refineries are in good spirits, leading to stable oil slurry prices.

Coal Tar Pitch:

On June 24, the coal tar pitch market was in a wait-and-see mode. The ex-factory reference price for modified pitch in major production areas is 4,100-4,500 yuan/ton. Recently, the overall operating rate of deep-processing of coal tar has not been high, leading to a contraction in coal tar pitch supply. Simultaneously, the stop-and-rise of raw coal tar prices has strengthened the low-price sales reluctance in the coal tar pitch market, leading to some improvement in new order transactions. However, due to poor previous shipments, some companies still need to clear inventory, which limits their ability to support prices. Overall, the coal tar pitch market is expected to adjust slightly upwards this week.

4. Downstream Market

Graphite Electrodes:

Graphite electrode companies are maintaining a stable production pace. Downstream demand is limited, with a focus on maintaining a balance between production and sales. Under a cautious trading atmosphere, the actual transaction prices of companies fluctuate occasionally. Some companies, due to sufficient order reserves, have a slight intention to increase prices. Overall, the graphite electrode market remains stable with minor fluctuations.

Anode Materials:

The trading in the anode materials market remains stable. According to market feedback, to prevent inventory buildup, downstream power battery companies have recently been purchasing anode materials on demand. Major anode material companies have good production schedules and high operating rates. However, due to limited order volumes and high market concentration, small and medium-sized anode material companies continue to face survival pressures, leading to ongoing competition for orders.

Petroleum Coke:

5. Market Outlook

The needle coke market is expected to remain stable, with current demand being the dominant factor. Anode material companies are operating at high rates and continue to purchase raw coke steadily, but cost reduction pressures remain. Thus, it is difficult to push needle coke prices up. In the short term, needle coke prices are expected to remain stable, with calcined coke prices ranging from 6,500-8,200 yuan/ton and raw coke prices from 5,000-5,400 yuan/ton.

Feel free to contact us anytime for more information about the needle coke market. Our team is dedicated to providing you with in-depth insights and customized assistance based on your needs. Whether you have questions about product specifications, market trends, or pricing, we are here to help.