SMM

Anode materials were weak in the week to January 4. Low-sulfur petroleum coke prices slightly recovered due to early downstream stockpiling. China National Petroleum Corporation hiked its coke prices and scrapped major customer discounts, moving to fixed pricing, hinting at future price variability. Oil-based needle coke prices stayed stable with few market transactions. High oil slurry costs support prices. Manufacturers now produce petroleum coke or less needle coke, meeting demand and managing inventories, leading to a price deadlock expected to sustain stability. Graphitization shows little market improvement. Independent firms have stopped or slowed production, resulting in stable prices. Q1 sees weak end-user demand. Anode manufacturers, expecting a downturn, have cut production, leading to a dull market mood. Amidst excess capacity and ongoing competition, anode material prices are expected to keep dropping slowly.