ICCSINO: This month, the needle coke market experienced relatively stable trading conditions. Downstream anode material producers depleted their inventories and restocked on a need-basis, while graphite electrode manufacturers made purchases based on immediate demand. Overall market demand remained somewhat lackluster. Needle coke production enterprises operated at high capacity, although some coal-based needle coke producers halted operations. Inventory levels at individual needle coke manufacturers were moderate, and transaction prices for certain needle coke enterprises declined slightly. Specifically, coal-based needle coke was priced at RMB 7,500-8,500 per ton, while oil-based needle coke was mainly traded at RMB 7,500-8,900 per ton. The prices for mainstream raw petroleum coke (green coke) of coal-based and oil-based origins ranged from RMB 5,800-6,600 per ton.
In the import and export markets, Japanese coal-based needle coke was priced at USD 800 per ton, and Korean coal-based needle coke at USD 860 per ton. For oil-based needle coke, Japanese prices stood at USD 1,100-1,300 per ton, while British calcined coke was priced at USD 1,000-1,200 per ton. Anode coke prices for anode production remained stable at USD 650-800 per ton.
Regarding raw materials, coal tar pitch prices continued to decline this month, dragged down by falling coal tar prices. By month-end, modified coal tar pitch was mainly traded at RMB 4,100-4,200 per ton, and medium-temperature pitch at RMB 3,650-4,400 per ton. Downstream purchasing interest was weak, with significant price pressure, indicating that coal tar pitch prices are likely to continue falling next month. Conversely, low-sulfur oil slurry prices rose steadily this month, defying the downward trend in international crude oil prices. Driven by downstream demand and lower refinery supply, low-sulfur oil slurry prices are expected to continue rising, pushing up needle coke production costs.
In the downstream sector, graphite electrode prices remained stable, with mainstream UHP600 electrodes priced at RMB 18,500-19,000 per ton. The increase in Sino-US trade tariffs has had minimal impact on the graphite electrode industry, with market conditions remaining largely unchanged and raw material purchases primarily driven by immediate needs. For the anode material market, operating rates remained robust, though demand for raw materials decreased month-on-month as enterprises focused on depleting product inventories, pressuring high-priced raw materials to reduce prices. With the advent of the high-water season in May, anode material production is expected to increase slightly, with inventories continuing to be drawn down. As raw material inventories are depleted, demand for anode materials is anticipated to recover.
Overall, needle coke sales were moderate this month, with price negotiations occurring between upstream and downstream players. Despite rising raw material costs for needle coke, it is expected that most needle coke manufacturers will maintain stable prices in the near future.
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