【Anode Material】Weekly Industry Review

 The rapid growth of the EV and energy storage industries is boosting demand for high-performance lithium batteries, driving the market for quality petroleum coke and synthetic graphite. The quality and particle size of calcined petroleum coke directly affect synthetic graphite performance, especially in anode production.

【Anode Material】Weekly Industry Review

Anode Materials: Previous Orders Continue to Be Executed, Anode Material Market Remains Stable

1. Market Highlights

1. Production:
Anode material production remained stable, with manufacturers mainly executing existing order deliveries.

2. Demand:
Demand for anode materials stayed stable with a positive trend, while the early release trend of overseas orders continued.

2. Market Analysis

Figure 1 Price Trend of China's Artificial Graphite Anode Materials
(Unit: RMB/MT)

Figure 2 Price Trend of China's Natural Graphite Anode Materials

(Unit: RMB/MT) 

China Anode Material Market Weekly Price Change Table

Unit: RMB/MT

Source: Oilchem

Notes:

1. Prices shown are the average mainstream market prices in different regions, updated before 16:30 on working days.

2. Prices are warehouse pickup, cash payment, tax included.

During this period, artificial graphite prices remained stable. The anode material market is still negotiating prices with downstream battery cell manufacturers, and final agreements have not yet been reached, resulting in a temporarily stable market. High-end power-grade products were priced at RMB 31,500-36,500/MT, while high-end digital-grade products ranged from RMB 45,000-65,000/MT. Mid-end products were priced at RMB 25,500-34,500/MT, and low-end products at RMB 19,500-25,500/MT.

Prices of some low-sulfur petroleum coke slightly declined, while needle coke prices remained stable, resulting in no substantial change in anode material production costs. Artificial graphite anode production continued operating at high levels, while downstream demand maintained a stable and improving trend.

3. Analysis of Raw Material Market Influencing Factors

1. Petroleum Coke:
Major refineries mainly focused on executing existing orders. Prices at PetroChina refineries remained unchanged; however, Daqing Petrochemical, Fushun Petrochemical, and Dagang Petrochemical conducted offline auctions, requiring purchases above the specified minimum bidding volume, with prices RMB 200-280/MT lower than retail buyer prices.

CNOOC Zhoushan and Taizhou Petrochemical remained under maintenance, with only limited inventory available at Zhoushan Petrochemical. Huizhou Petrochemical implemented long-term contract orders in May with stable prices, while CNOOC Bitumen Binzhou organized a new round of bidding with stable prices maintained. Sinopec Luoyang Petrochemical in North China suspended quotations due to maintenance shutdown.

1. Needle Coke:
Oil-based needle coke prices continued to receive strong support from raw material costs, and most producers maintained firm quotations with limited market price fluctuations. Coal-based needle coke producers, however, faced insufficient support from coal tar pitch prices combined with cautious downstream procurement sentiment, leading to insufficient overall market demand follow-up and potential downside price pressure.

4. Market Forecast for Next Week

Negotiations between anode material producers and downstream buyers over pricing continue, while resistance to further increases in anode material prices remains relatively strong.

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