Monthly Review: Needle Coke Firms Hold Firm on Prices Amid High Costs in Late August

The needle coke market remained relatively stable this month, with some companies adjusting prices slightly. Downstream enterprises showed decent enthusiasm for purchases. In the middle and late part of the month, raw material prices rose, increasing production costs for needle coke companies. On the supply side, some needle coke companies resumed operations in the first half of the month, leading to an overall increase in the industry's operating rate.

In terms of prices, coal-based needle coke ranged from 7,500 to 8,500 yuan/ton, while oil-based needle coke was priced between 7,400 and 8,700 yuan/ton. The mainstream prices for coal- and oil-based green coke stood at 4,750 to 6,300 yuan/ton.

In the import and export market, Japanese coal-based needle coke was priced at 800 USD/ton, with South Korean coal-based needle coke prices falling to 800 USD/ton in August. For oil-based needle coke, Japanese prices ranged from 1,100 to 1,300 USD/ton, British calcined coke from 925 to 1,125 USD/ton, and anode coke prices remained stable at 650 to 800 USD/ton.

Regarding raw materials, coal tar pitch prices followed an inverted "V" trend this month, ending at 4,000 to 4,050 yuan/ton for modified coal tar pitch and 3,800 to 4,100 yuan/ton for medium-temperature pitch. Price fluctuations were mainly influenced by raw coal tar oil. Although coal tar oil prices continued to decline at month-end, the reduced operating rates of coal tar pitch companies led to stalemates in price negotiations with downstream enterprises. It is expected that coal tar pitch prices will stabilize in the future. Low-sulfur oil slurry prices first stabilized and then rose this month, reaching 3,850 to 3,950 yuan/ton by month-end. With the peak season approaching, oil slurry prices are expected to continue rising, increasing costs for oil-based needle coke.

Downstream, graphite electrode prices remained stable this month, with steady shipments and continued rigid demand for raw materials. The peak season for electric furnace steel is approaching, with expectations of improved demand across the graphite electrode supply chain. The anode material market performed well overall this month, with leading companies maintaining high operating enthusiasm. It is anticipated that the anode material operating rate will remain favorable in September, along with steady procurement of raw materials to meet demand in both energy storage and power sectors.

In summary, the needle coke market performed decently this month. While anode companies still have some stockpiling needs in September, the persistent cost pressures on needle coke are expected to prompt companies to continue holding firm on prices.