ICCSINO：The needle coke market was relatively stable this month, with needle coke manufacturers mainly producing green coke and calcined coke scheduled according to orders. Demand from the downstream anode material industry was acceptable, while overall demand from the graphite electrode industry was general. In the early and mid-month, needle coke transaction prices remained high and stable. At the end of the month, upstream and downstream manufacturers were mainly in a wait-and-see attitude. Specifically, coal-based needle coke prices were 7,500-8,500 yuan/ton, and oil-based needle coke mainstream prices were 7,500-9,000 yuan/ton. The mainstream prices for coal- and oil-based green coke were 6,000-7,000 yuan/ton.
In terms of the import and export market, Japanese coal-based needle coke prices were $850/ton, and Korean coal-based needle coke prices were $800/ton. For oil-based needle coke, Japanese prices were $1,100-1,300/ton, UK calcined coke prices were $1,050-1,250/ton, and prices for anode-grade coke were $650-800/ton.
In terms of raw materials, coal pitch prices mainly trended downward this month, with modified pitch prices at 4,400-4,500 yuan/ton and medium-temperature pitch prices at 4,400-4,700 yuan/ton at the end of the month. Raw material coal tar prices continued to decline, and the operating load of coal pitch production continuously increased. Downstream enterprises purchased on an as-needed basis, resulting in a weak coal pitch market. It is expected that coal pitch prices will still face downward risks next month.
Low-sulfur oil slurry prices fluctuated this month, initially declining and then rising. In the early and mid-month, low-sulfur oil slurry prices were high, and downstream enterprises were reluctant to purchase, leading to fluctuating downward prices. At the end of the month, downstream purchasing sentiment improved, and low-sulfur oil slurry prices began to rebound. As of the end of the month, low-sulfur oil slurry prices were 4,250-4,360 yuan/ton. It is expected that low-sulfur oil slurry prices will continue to rise in the early part of next month, increasing the cost pressure on needle coke enterprises.
Regarding downstream demand, the graphite electrode market experienced a price trend of initial rise followed by decline this month, with the price of UHP600 at the end of the month ranging from 18,500 to 19,000 yuan/ton. Earlier, the rise in raw material prices drove up graphite electrode prices. However, this month, the decline in raw material prices provided insufficient support for graphite electrode prices. Coupled with weak demand from downstream electric arc furnace (EAF) steel mills, graphite electrode prices adjusted downward at the end of the month. In the short term, the demand for raw materials from graphite electrodes will remain at a just-needed level.
In the anode material sector, the operating rate of anode material production remained relatively high this month. At the beginning of the month, with raw material prices at high levels, anode material producers replenished raw materials on an as-needed basis. After the decline in raw material prices, the willingness of anode material enterprises to purchase raw materials improved at the end of the month. However, they remained cautious towards needle coke and continued to negotiate for lower prices. In April, the output of anode materials is expected to fluctuate slightly month-on-month, and the overall demand for raw materials remains optimistic.
Overall, the trading atmosphere in the needle coke market was acceptable this month, with relatively good demand from the downstream anode material market and general demand from the graphite electrode market. Raw material prices rebounded at the end of the month, but overall downstream demand for needle coke remained largely unchanged. Anode material enterprises were strong in price negotiation, and it is expected that needle coke prices may undergo minor adjustments at the beginning of next month.
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