Monthly review: the shipment of needle coke in December was generally low, and the price of raw mate

In terms of raw materials, the price of coal tar pitch rose first and then fell this month. At the end of the month, the mainstream reformed pitch was priced at 4550-4600 yuan/ton, and medium temperature pitch was priced at 4500-4600 yuan/ton. Coal tar pitch prices rose at the beginning of the month due to rising raw material prices. In the middle of the month, the operating rate of coal tar pitch was high, supply was relatively large, downstream demand was poor, and raw material prices were bearish. As a result, coal tar pitch prices declined in the middle of the month and stabilized at the end of the month. The current demand in the coal tar pitch market is poor, and there is still a risk of price decreases next month. As for low sulfur oil slurry, its price fell first and then stabilized this month. At the beginning of the month, the demand for oil slurry in the market was poor and prices gradually declined. As oil-based needle coke enterprises gradually started production this month, the demand for oil slurry increased, gradually forming price support. There is a possibility for subsequent increases in low sulfur oil slurry prices, and the cost pressure on oil-based needle coke enterprises will increase.

Downstream, the graphite electrode market continued to operate weakly this month, with small adjustments in graphite electrode market prices. The mainstream UHP600 price was 19,000-20,000 yuan/ton. The graphite electrode industry chain still focused on clearing inventory and purchasing raw materials on an as-needed basis. It is expected that there will be limited demand support for raw materials in the first half of next year. As for negative electrode materials, their operating rates remained generally low this month, with cautious demand for raw materials. In addition, procurement volumes for raw materials were controlled at the end of the year. The negative electrode material market will relatively be a slow season in the first quarter of next year, and raw material procurement will still be based on just-in-time demand.

Overall, the supply of needle coke increased this month, while downstream procurement was based on just-in-time demand. Future demand is expected to be average, and needle coke prices will fluctuate with raw material prices. It is anticipated that needle coke prices will remain stable in the short term.