Raw material support loosened during the week, supply remained stable, and demand increased gradually [SMM Prebaked Anode Weekly Review]

SMM April 17 News: Raw material side, in the petroleum coke market, refinery shipments showed mediocre performance during the week, with downstream companies exhibiting low buying sentiment, leading to a divergence in refinery petroleum coke prices. Specifically, CNOOC's petroleum coke prices showed mixed performance this week, with adjustments ranging from 30-100 yuan/mt. PetroChina's northeast China refineries' petroleum coke prices rose by 50 yuan/mt last Saturday and remained stable this week, with the current price range at 4,150-4,650 yuan/mt; Sinopec's petroleum coke prices continued to rise slightly during the week, with increases ranging from 20-100 yuan/mt. Local refineries' shipments were average, with petroleum coke prices stable to slightly weaker. According to SMM data, the average price of local refineries' petroleum coke was about 2,542 yuan/mt, down 0.77% WoW. In the coal tar pitch market, prices slightly decreased this week, with the average price at 4,487 yuan/mt as of Thursday, down 1.82% WoW. Overall, the cost side of prebaked anode showed slight loosening. Supply side, prebaked anode companies produced based on orders throughout the year, with the industry's operating rate remaining stable this week, maintaining overall market supply at a relatively stable level. Demand side, domestic aluminum production capacity increased, although the increase was limited, it still had a positive impact on the demand for prebaked anode. Brief review: During the week, the raw material market for petroleum coke and coal tar pitch weakened, with the support for prebaked anode raw materials loosening. According to SMM data, as of April 17, the cost of prebaked anode in China was about 5,300 yuan/mt, down about 1% compared to last Thursday. The raw material market showed weak performance, with no significant fluctuations in the industry's supply side under the stable production strategy of companies, while downstream demand showed a steady upward trend due to factors such as increased aluminum production capacity, and the market is in a dynamic adjustment stage of raw material cost changes, stable supply, and slow demand growth. Click to view SMM aluminum industry chain database.

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Raw material support loosened during the week, supply remained stable, and demand increased gradually [SMM Prebaked Anode Weekly Review]

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