Price：
Trading in the needle coke market has been brisk this month. Production rates at needle coke plants were low at the beginning of the month, but some plants began resuming operations in the middle and latter half of the month. Overall shipments have improved compared to last month, with some discounts offered on transactions. overall quoted prices remained largely unchanged. Specifically, the mainstream price for oil-based needle coke ranged from 8,100 to 9,600 yuan per metric ton, while the mainstream price for coal- and oil-based raw coke ranged from 6,400 to 7,700 yuan per metric ton. In the import and export markets, the price of coal-based needle coke in Japan stood at $930 per metric ton, while the price in South Korea rose to $940 per metric ton. For oil-based needle coke, prices in Japan ranged from $1,100 to $1,300 per metric ton; calcined coke prices in the UK ranged from $925 to $1,125 per metric ton; and prices for anode-grade coke remained stable at $760–860 per metric ton.
Raw materials：
Coal tar pitch market prices trended downward this month, primarily influenced by fluctuations in coal tar prices. At the beginning of the month, falling coal tar prices dragged down coal tar pitch prices; by month-end, a rebound in coal tar prices provided support for coal tar pitch prices. Shipments of coal tar pitch were moderate, with downstream buyers adopting a generally cautious purchasing stance. It is expected that coal tar pitch market prices will continue to fluctuate in line with raw material prices. Regarding low-sulfur oil slurry, prices fluctuated this month. As tensions in the Middle East eased mid-month and crude oil prices fell, oil slurry prices began to show a downward trend. However, this coincided with the resumption of operations at oil-based needle coke producers, causing the market price of low-sulfur oil slurry to stabilize immediately. By month-end, strong demand for low-sulfur oil slurry led prices to rise again. With oil slurry supplies extremely tight, prices are expected to continue rising in the near term, while cost pressures for oil-based needle coke remain high.
Downstream ：
The graphite electrode market performed moderately this month. Operating rates for graphite electrode producers remained low, and their willingness to accept high-priced raw materials was limited; in the short term, they will maintain procurement based solely on essential needs. Regarding anode materials, the market continued to perform well this month, with operating rates increasing month-over-month. Demand for needle coke from the anode materials sector also remained strong, and it is expected that demand for needle coke from this sector will remain robust next month.
Overall, the needle coke market remained relatively stable this month, with generally strong downstream shipments. Transaction prices for needle coke were slightly discounted, and the outlook for raw materials remains bullish. Consequently, needle coke prices are expected to rise moderately in the near future.
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