ICCSINO: This month, the needle coke market saw a slight recovery in shipments, with downstream demand for anode materials beginning to rebound. Some needle coke producers initiated maintenance, keeping industry inventory at moderate-to-high levels and overall supply ample. Downstream buyers pressed for lower prices, leading to frequent discounts in transactions. By month-end, needle coke prices stabilized with limited room for further declines. Specifically, coal-based needle coke was priced at 7,500-8,500 yuan/ton, while oil-based needle coke averaged 7,400-8,700 yuan/ton. Mainstream green coke prices (coal- and oil-based) ranged from 4,700-6,300 yuan/ton. In the import/export market, Japanese coal-based needle coke was priced at $800/ton, South Korean coal-based needle coke at $860/ton; for oil-based needle coke, Japanese prices stood at $1,100-1,300/ton, British calcined coke at $1,000-1,200/ton, and anode-grade coke remained stable at $650-800/ton.
Regarding raw materials, coal tar pitch prices first declined and then stabilized this month. By month-end, modified coal tar pitch transactions averaged 3,550-3,650 yuan/ton, while medium-temperature pitch was priced at 3,600-4,150 yuan/ton. Despite ample supply, weak downstream demand hindered price increases after initial declines, with the market expected to remain stable ahead. For low-sulfur decant oil, prices first plateaued and then rose this month, driven by a sharp increase in international crude oil prices in mid-month and peak shipping fuel demand, pushing low-sulfur decant oil prices upward. By month-end, mainstream transactions reached 4,050-4,100 yuan/ton, with further upside potential anticipated.
Downstream, the graphite electrode market maintained a weak and stable performance, with rigid demand-driven production and lackluster enthusiasm for raw material procurement, offering few short-term positives. Regarding anode materials, following consumption in April-May, procurement gradually resumed in June. Leading anode manufacturers have maintained active production increases in July. The market outlook for anode material demand remains positive, though battery makers continue to exert significant downward pressure on prices. Anode material producers are still pressing for lower raw material prices and are reluctant to accept high-priced inputs.
Overall, needle coke shipments recovered this month, albeit with slight price declines. Operating rates dipped, but raw material prices are expected to rise, suggesting stable needle coke prices ahead.
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