ICC News: Overall needle coke market went downward in September. As purchasing activities slowing down, all units with main operation in needle coke all lowered product prices. Right now, quoting prices for Hongte Chemical's coal-based needle coke stand at 7,500-8,500 yuan/mt with a monthly output of 2,100-2,500 tons. Quotes for Jinzhou Petrochemical's petroleum-based needle coke stand at 7,500 yuan/mt with a monthly output of 2,000 tons. Sinosteel Corporation Anshan Research Institute Of Thermo-energy resumed production output to 500 tons this month, and it is set to reach 3,000 tons next month.
On the overseas market side, in Jan-August period, coal-based needle coke imports reached 31,918 tons and oil-based needle coke imports were 20,065 tons.
On the downstream market side, graphite electrode market is unlikely to improve and captial issues are still the biggest obstacles for producers.
Although domestic producers only produce based on how much they sell,pushing sales by cutting prices has become a common practice at present as all producers wanted to get ahead in the market and reduce inventories.
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