【Graphite Electrodes】Price Increase Slows, Cost and Demand Continue to Compete

Recently, the domestic graphite electrode market price rise has slowed, with subsequent upward momentum appearing slightly insufficient. Taking the mainstream specification Ultra High Power Graphite Electrode Φ450mm as an example, the current ex-factory tax-included price is mostly concentrated in the 14,500–15,000 RMB/ton range, slightly higher than last month.

On the raw material side, cost support remains solid. Petroleum coke prices continue a steady-to-strong trend, with some local refining enterprises slightly raising their quotes. However, as graphite electrode enterprises' raw material inventories continue to rise, the actual cost pressure has not been fully transmitted to the production side, giving companies a certain degree of pricing flexibility.

On the demand side, performance is still mainly driven by rigid demand. Although steel mills' purchasing activity is relatively active, the actual purchase volume remains low, and order sizes have not significantly expanded. Against the backdrop of widespread losses in the steel industry, most steel mills continue a low-inventory strategy, with replenishment on an as-needed basis being the mainstream approach.

From the competitive landscape perspective, leading enterprises rely on scale advantages and stable channels to continue dominating market price trends. Overall, the current graphite electrode market supply-demand relationship is basically balanced, and it is expected that in the short term, mainstream prices will fluctuate within a narrow range.

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