ICC News: Needle coke market maintained ok performance this month. On the domestic market side, the price of coal-based needle coke stands at 7,50-8,000 yuan/mt, and the prevailing quoting price of petroleum-based needle coke is 7,500 yuan/mt. Domestic Shanxi-based Hongte Chemical has a monthly output of 2,500 tons, and Jinzhou Petrochemical 2,000 tons priced at 7,500 yuan/mt in the market. Baosteel Chemical has launched coal-based needle coke products in the market, with a designed capacity of 20,000 tons. Right now, the monthly output stands at 1,000 tons at a price rate of 6,500 yuan/mt during the period of promotion. In the downstream market, contradictions between supply and demand are likely to deepen as there was no apparent improvement in downstream demand despite a pickup in both steel price and output. An even intensified implementation of production halt is likely in store later. Industry operators still don't feel optimistic on the outlook of steel industry, and graphite market is unlikely to recover any time soon which continue to put enormous pressure for graphite electrode sales.
Statistics show China's petroleum-based needle coke imports totaled 1,067 tons in July, down 79.18% year-on-year. Major sources of imports include the US, Japan and German. China's coal-based needle coke imports totaled 5,336 tons, up 30.56% year-on-year. Major source of imports is Japan.
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