In terms of raw materials, the price of coal tar pitch rose slightly this month. Coal-based needle coke companies continued to suffer losses. The overall operating rate of the market was low. Some companies started operations under pressure to maintain market supply. In terms of low-sulfur oil slurry, the price of low-sulfur oil slurry fluctuated around 5,950-6,150 yuan/ton this month. Affected by downstream demand, low-sulfur oil slurry is easy to rise but hard to fall, and the cost of oil-based needle coke companies is high. State coke prices provide strong support. Coal tar pitch is challenging to fall due to the low operating rate of the tar deep processing industry, and the price of low-sulfur oil slurry remains high due to high downstream demand. It is expected that in December, the overall cost pressure of the needle coke industry will be difficult to ease.
On the downstream side, in November, the domestic graphite electrode market price rose first and then stabilized. At the beginning of the month, market inquiries increased. Graphite electrode companies actively pushed up the price of graphite electrodes under the mood of reluctance to sell, and the increase mainly was 500-1000 yuan/ton. As of the end of November, the mainstream quotation for UHP600mm specifications was 25,000-26,000 yuan/ton. At present, the downstream demand for graphite electrodes could be better. To avoid inventory accumulation, graphite electrode companies have indicated that they will continue to reduce production and switch production, and the demand for needle coke will further decrease. In terms of anode materials, the market price of anode materials has generally remained stable this month. Still, the new production capacity is mainly low-end products, which has led to fierce competition in the low-end product market, and the prices of low-end products of some companies have loosened. As the end of the year draws near, battery companies mainly focus on clearing inventory and need to purchase anode materials. Therefore, there will be no large-scale replenishment of anode materials for needle coke in December, and the state of just-needed procurement will remain.
On the whole, the needle coke market is generally stable this month. The demand for graphite electrodes is slightly weak. The anode materials just need to be purchased, and the downstream demand is typically flat, but the overall cost support of the industry is strong. It is expected that the needle coke market will maintain stable prices in December.
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