【Graphite Electrodes】Needle Coke Sales-Driven, Prices Under Pressure

Ⅰ. Needle Coke Market:

1. Market Overview: From July 21 to 26, 2024, the Chinese needle coke market prices remained stable, and trading was steady. The needle coke market mainly executed previous orders, with production adjusted to meet sales, keeping market prices stable.

2. Prices: The mainstream prices for calcined needle coke ranged from 6,500 to 7,800 yuan/ton, while raw needle coke prices were between 5,200 and 5,500 yuan/ton.

3. Costs: Raw material prices remained high, exerting cost pressure on petroleum-based needle coke producers. On the downstream side, production of anode materials stabilized, driven by increasing demand from the new energy vehicle and energy storage markets. The demand for anode materials is supported by the peak season for consumer products.

4. Outlook: The needle coke market is expected to remain stable next week.

Ⅱ. Graphite Electrode Market

1. Market Overview: From July 21 to 26, 2024, the Chinese graphite electrode market prices remained stable, and trading was steady. Feedback from graphite electrode enterprises indicated that downstream steel mills continued to operate weakly. Additionally, the sluggish downstream market led to increased pressure on graphite electrode prices, making it difficult to push prices higher. There was still low-priced inventory in the market, dragging down the overall graphite electrode market. Consequently, market prices remained stable with slight variances.

2. Outlook: The graphite electrode market is expected to see slight price increases followed by stabilization next week. 

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