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Monthly report: Needle coke stays stable overall during August

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ICC News: China's needle coke market saw strong gains in early August supported by multiply bullish factors, with market prices of raw needle coke standing at 14,000-1000 yuan/ton, calcined needle coke at 25,000-32,000 yuan/ton. In late August, as a 30-36% drop in downstream graphite electrode price weighed down purchases for needle coke, some manufacturers have started to lower needle coke price accordingly. As of late August, prices of needle coke for graphite electrode are 25,000-32,000 yuan/ton; prices of needle coke for anode materials are 13,000-16,000 yuan/ton; imported needle coke are $3,900-$4,200 per ton (CFR). The market will see increased supplies in September, while on the demand side, rising carbon product prices will benefit the market. Two sides will be battling it out in the following month. Needle coke market is expected to likely chop around high levels and prevailing trading prices are expected to move sideways on two major downstream markets in September. On the import market, Philips 66's estimated exports for the whole year are around 110,000 tons. In August, HSP needle coke was quoted 3,700 USD/ton, HNP needle coke 3,400 USD/ton, calcined coke for anode materials 2,000 USD/ton and raw coke 1,500 USD/ton. South Korea PMC's 50,000t needle coke for this year has been fully booked on the support of bullish demand factors from China. In August, its calcined coke prices were quoted at $4,000-$4,100 per tonnne. C-Chem's raw needle coke price was 18,000 yuan/ton; the volume of exports was limited. Import price of Japan Petrocokes's petroleum-based needle coke is at $4,300 per ton now; the export volume is quite limited. Mitsubishi Chemical's needle coke exports are expected roughly 10,000 tons. Prevailing quoting price is at $4,000 per tonne now. In the spot market, Philip 66's raw coke is 18,000 yuan/ton and its calcined needle coke 30,000 yuan/ton; tax inclusive price for PMC's M-grade spot needle coke is 31,000 yuan/ton; Mitsubishi Chemical's X-grade needle coke price is  22,500 yuan/ton.
 
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