Monthly Review: Needle Coke Shipments Conclude Successfully at Year-End

ICCSINO: This month, the needle coke market witnessed satisfactory shipments. Downstream graphite electrode enterprises stocked up as needed, and there was active procurement of anode materials. Exports of needle coke are expected to increase this month. The supply of green needle coke was adequate, while the supply of calcined needle coke was tight for some manufacturers, leading to slight fluctuations in needle coke prices. The transaction prices of green needle coke declined, while those of calcined needle coke rose steadily. Specifically, coal-based needle coke prices ranged from RMB 7,500 to 8,500 per ton, and oil-based needle coke mainstream prices were between RMB 5,800 and 8,400 per ton. Mainstream prices for coal- and oil-based green needle coke were in the range of RMB 4,700 to 5,300 per ton.

In the import and export market, Japanese coal-based needle coke prices were at USD 850 per ton, and Korean coal-based needle coke prices were at USD 800 per ton. For oil-based needle coke, Japanese prices were between USD 1,100 and 1,300 per ton, British calcined coke prices were in the range of USD 950 to 1,200 per ton, and anode coke prices were between USD 650 and 800 per ton.

Regarding raw materials, coal tar pitch prices declined this month, with mainstream transaction prices for modified coal tar pitch falling by 11.04% to RMB 3,550 to 3,700 per ton, and mainstream medium-temperature coal tar pitch prices dropping by 10.3% to RMB 3,600 to 3,800 per ton. Raw material coal tar prices continued to decline throughout the month, leading to poor enthusiasm for purchases among downstream enterprises. There was no support for coal tar pitch on both the cost and demand sides, resulting in a decrease in operating rates at the end of the month. Next month, coal tar pitch is expected to consolidate. As for low-sulfur oil slurry, prices rose initially and then stabilized this month. In the first half of the month, oil slurry shipments were satisfactory, and refinery inventories were low. Refineries actively raised prices for low-sulfur oil slurry. In the second half of the month, international crude oil prices fell, and oil slurry demand remained stable, leading to stabilized oil slurry prices. The supply and demand relationship for low-sulfur oil slurry is expected to remain unchanged in the near future, and oil slurry prices are expected to remain stable at the beginning of January.

On the downstream front, graphite electrode prices rose this month mainly due to increases in raw material low-sulfur coke prices. By the end of the month, mainstream UHP600 prices were in the range of RMB 17,750 to 18,250 per ton. Currently, steel plants are operating at lower levels, and both upstream and downstream of the industry chain are in a state of rigid demand for stockpiling. It is expected that demand will not increase significantly in the short term. In the anode material market, trading activity improved this month, with active stockpiling of raw materials. However, due to the impact of the Chinese New Year holiday next month, some anode material factories may slow down their procurement of raw materials, but the procurement trend remains positive.

Overall, needle coke shipments were satisfactory this month, with an increase in the supply of green needle coke. There were分歧 trends in needle coke prices, but raw material prices stabilized. In the future, needle coke prices are expected to remain stable.