【Anode】Leading Enterprises Increase Production, Needle Coke New Orders Under Discussion

Market Overview

On October 18, 2024, the Chinese needle coke market remained stable. Domestic needle coke prices ranged between 4,900-5,300 CNY/ton for green coke and 6,500-8,200 CNY/ton for calcined coke. The mainstream transaction prices for imported oil-based needle coke were 500-1,200 USD/ton for green coke and 750-1,250 USD/ton for calcined coke, while imported coal-based needle coke had a mainstream transaction price of 800-1,000 USD/ton for calcined coke.
The average price of domestic needle coke was 7,585 CNY/ton, unchanged from the previous business day. Currently, the market sentiment in China is positive, with overall trading remaining stable.
According to market feedback, recent demand from terminal enterprises for inventory replenishment has led to increased production by leading anode material companies. This has resulted in a rise in inquiries and purchases of green coke, and the inventory of green coke at major needle coke companies is gradually decreasing, leading to a more positive outlook. However, some anode material enterprises are increasing their use of petroleum coke to reduce costs, which limits the release of demand for needle coke. As a result, needle coke prices are expected to remain stable in the short term.

Market Prices

Upstream Market

Slurry Oil: On October 18, slurry oil prices remained stable, with mainstream prices for medium-high sulfur slurry oil ranging from 3,550-4,000 CNY/ton and low sulfur slurry oil ranging from 3,600-4,270 CNY/ton. International crude oil prices closed with a slight increase, providing some positive guidance. Mid- and downstream users entered the market based on rigid demand, while trading remained calm. Refineries reported moderate sales, and current slurry oil prices are stable.
Coal Tar Pitch: On October 18, the coal tar pitch market saw stable transactions. In the main production areas, modified pitch was quoted at 4,050-4,300 CNY/ton with acceptance terms. This week, coal tar prices showed an overall downward trend, with significant regional differences that negatively impacted coal tar pitch negotiations. However, due to maintenance at deep processing plants in the main production areas, coal tar pitch supply tightened. Additionally, deep processing of coal tar continued to operate at a loss, leading manufacturers to maintain stable prices, resulting in overall market stability.

Downstream Market

Graphite Electrodes: The demand in the downstream market for graphite electrodes remains limited, and purchases from steel mills have decreased. The profitability of steel mills continues to shrink, with operations running at low levels and production slowing. Steel mills continue to push for lower prices in graphite electrode transactions, while graphite electrode companies maintain cautious pricing, focusing on fulfilling previous orders. The graphite electrode market remains stable.
Anode Materials: The anode materials market is currently stable. It is reported that some anode material companies have gradually cleared their inventories, bringing their stock of finished and semi-finished products to a healthy and reasonable level. Coupled with a slight rebound in procurement demand from downstream companies, some anode material companies have slightly increased their purchases of low-sulfur petroleum coke and needle coke green coke this week.

Petroleum coke:

Market Outlook

As the period for new order negotiations approaches, positive factors are emerging from the demand side. Needle coke manufacturers are maintaining a wait-and-see approach with stable pricing expectations. In the short term, needle coke market prices are expected to remain stable, with calcined coke ranging from 6,500-8,200 CNY/ton and green coke between 4,900-5,300 CNY/ton.

(Source: Baiinfo)

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