Monthly Review: In January, the needle coke market saw a slight increase in shipments.

ICCSINO: This month, the needle coke market shipped relatively steadily. The overall operation of the needle coke market was at a low level. The price of low-sulfur oil sludge first stabilized and then rose, while the price of coal pitch first fell and then rose. Downstream companies restocked before the holiday, and various needle coke manufacturers offered slight discounts before the holiday. Price-wise, coal-based needle coke was priced at 7,500-8,500 yuan per ton, oil-based needle coke was priced at 5,800-8,000 yuan per ton, and coal and oil-based raw coke were priced at 4,500-5,000 yuan per ton. In the import and export market, Japan's coal-based needle coke price was at 600 US dollars per ton, while South Korea's coal-based needle coke was at 850 US dollars per ton. For oil-based needle coke, Japan's price was between 1,100-1,300 US dollars per ton, the UK's price was between 1,000-1,100 US dollars per ton, and the price of anode coke was between 650-800 US dollars per ton.

In terms of raw materials, this month the price of coal pitch first fell and then rose with a large rebound. At the end of the month, the price of modified asphalt in the market was between 5,000-5,200 yuan per ton. The mainstream price of intermediate temperature coal pitch was between 4,800-5,000 yuan per ton. At the beginning of the month, the price of coal tar pitch market fell, and downstream coal pitch enterprises cautiously purchased raw materials, leading to a decline in coal pitch prices. Later on, the price of coal tar rose, which drove up the price of coal pitch. At the same time, due to pre-holiday restocking, downstream companies were actively purchasing goods, leading to an increase in coal pitch prices. Coal-based needle coke companies had no hope of restarting production. In terms of low-sulfur oil sludge in this month, the price first stabilized and then rose. In the early stage, shipments were relatively stable, and the price of low-sulfur oil sludge also remained stable. In the later stage, downstream companies restocked before the holiday, leading to an increase in oil sludge prices. By the end of the month, prices began to stabilize. As of the end of the month, the mainstream price of low-sulfur oil sludge was between 4,000-4,530 yuan per ton. Oil-based needle coke enterprises faced greater cost pressures. Due to the large amount of inventory prepared by downstream companies in the early stage, there may be a decrease in low-sulfur oil sludge prices after the holiday.

Downstream demand: This month, the graphite electrode market was generally stable. The price of UHP600 was between 19,000-20,000 yuan per ton. Graphite electrodes had sufficient demand for needle coke. Before the holiday, there was a small amount of restocking action. It is expected that after the holiday, graphite electrodes will continue to maintain their rigid demand for needle coke. The anode material market: This month, prices of anode materials continued to fall. The overall operation rate of anode materials was not high. The demand for needle coke from anode materials was relatively weak. Leading anodecompanies restocked as needed. After the holiday, there will be no change in demand for needle coke from anode materials.

Overall, this month needle coke had strong cost support but overall downstream demand was average. Each transaction had some discounts. After the holiday, several mainstream needle coke manufacturers had maintenance plans. There will be a decrease in needle coke supply. It is expected that needle coke prices may remain stable or rise slightly in the future market.