Raw Materials: Coal tar pitch prices stabilized initially before declining, with modified pitch closing at 3,650-3,750 yuan/ton and medium-temperature pitch at 3,650-4,000 yuan/ton. Weakening coal tar prices and ample supply, coupled with cautious downstream procurement, dragged pitch prices lower, with continued volatility expected. Low-sulfur slurry oil averaged 3,850-3,950 yuan/ton this month, with limited price fluctuations. Refinery shipments remained sluggish, and rigid downstream demand is projected to keep prices elevated, intensifying cost pressures for needle coke production.
Downstream Dynamics: The graphite electrode market remained stable, with rigid raw material demand and balanced supply-demand dynamics. No short-term fluctuations are anticipated. The anode material sector stayed hot, with leading producers operating at full capacity due to saturated orders. Active raw material demand is expected to persist into November.
Outlook: The needle coke market traded actively this month, with high downstream enthusiasm and depleting inventories. Tight supply from select producers in the near term suggests further upward price momentum.
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