Monthly report: Needle coke focus expects rational return

   ICC: The needle coke market in June was depressed by downstream demand and affected by the epidemic at home and abroad, resulting in blocked delivery, fewer new orders and weak overall operation. The transaction is mainly based on the on-demand purchase of old customers. As of press release, the domestic price of coal-base needle-coke is RMB 5,000-6,500 / ton, the price of oil-base needle-coke is RMB 5,500-7,000 / ton, and the price of  green coke is RMB 4,000-5,000 / ton. In terms of import, coal needle coke is usd 680-1300, oil needle coke is USD 1400-1800 / ton, and anode coke is USD 1000-1200 / ton. In the later stage, supported by raw material prices, the downward space of needle coke in July was squeezed again. Some enterprises operated at a loss in order to run, which fully showed that our needle coke enterprises would rather "finish the last bullet" in the market than wait to die. Short - term downstream market weakness difficult to change, the price is expected to maintain the status quo into a large probability.
In the anode market, the lithium anode market in June in the downstream recovery driven by the situation has improved, it is expected that this month's anode material output growth of about 10% month-on-month. The contract price of needle coke and graphitization of anode materials is stable, and the domestic anode price is limited to continue to decline. However, the processing cycle of anode materials is long, and the price reduction is lagging behind. It is expected that the price of high-end anode materials without adjustment in the first half of the year will be under pressure in the second half. In terms of graphite electrode, the domestic market of graphite electrode continued to show a downward trend in June. However, we learned from the market that due to the unsealing of some overseas countries, the inquiry list of graphite electrode began to increase. The specifications are mostly UHP600mm, and there are ALSO UHP400-500mm. As of June 28, the mainstream price of UHP450mm with 30% needle coke content in the market is about 12,000-13,000 yuan/ton, down 1,000 yuan/ton from last month; the mainstream price of UHP600mm is 15,000-16,000 yuan/ton, down 2,000 yuan/ton; the price of UHP700mm is 3.1-32,000 yuan/ton, down 1,500 yuan/ton.