A Review of China's Carbon New Materials Market (November 3-7)

Petroleum Coke Market

Last week (November 3-7), my country's petroleum coke market continued its upward trend, with an average market price of 3176 yuan/ton. Among major refineries, Sinopec refineries mainly raised prices, by 180-400 yuan/ton; PetroChina's refineries actively raised prices, by 200-320 yuan/ton; CNOOC's refineries saw a slight increase, by 30 yuan/ton; refineries in Northeast China actively raised prices, with Daqing Petrochemical raising 250 yuan/ton, Fushun Petrochemical raising 200 yuan/ton, Jilin Petrochemical raising 300 yuan/ton, and Jinzhou Petrochemical and Jinxi Petrochemical raising 320 yuan/ton. Local refineries raised prices by 30-380 yuan/ton, with only a few declining by 10-290 yuan/ton. Downstream prebaked anode manufacturers are operating well, resulting in moderate demand for petroleum coke. Calcined coke manufacturers are showing moderate production activity, with some experiencing production cuts due to environmental regulations, leading to generally moderate demand for petroleum coke. The anode material market continues to see strong demand, with manufacturers experiencing no pressure to ship their coke. Graphite electrode manufacturers [https://www.aohuicorp.com/contact-us/] are primarily purchasing petroleum coke for immediate needs. Overall, downstream production and demand are performing reasonably well, providing some support to the petroleum coke market. It is expected that petroleum coke prices will remain largely stable this week.

Calcined Coke Market

Last week (November 3-7), my country's calcined coke market continued to rise, with an average price of 3829 yuan/ton. Raw material petroleum coke prices continued to rise, with low-sulfur petroleum coke prices in Northeast China increasing by 200 yuan/ton. Some low-sulfur calcined coke manufacturers followed suit with price increases of 200-250 yuan/ton, but shipments were generally weak. Medium- and high-sulfur calcined coke prices generally increased, with no pressure to ship. Downstream, demand for low-sulfur calcined coke was moderate, while demand in the graphite electrode market was slowly recovering. Affected by end-user demand, electrode manufacturers maintained low-load production and were less accepting of price increases for calcined coke, mostly replenishing inventory in small, immediate orders. Cathode carbon block prices saw limited increases, with insufficient market support, resulting in weak and stable demand for low-sulfur calcined coke. Downstream demand for medium- and high-sulfur calcined coke was acceptable, with good trading in the anode material market and overall industry operating rates at a high level, leading to increased demand for medium- and high-sulfur calcined coke. Overall, strong cost support from raw materials, insufficient support from demand for low-sulfur calcined coke, and strong downstream purchasing activity for medium- and high-sulfur calcined coke suggest that calcined coke prices are expected to rise further this week.

Coal Pitch Market

Last week (November 3-7), my country's coal pitch market remained stable, with the reference price for modified pitch in major producing areas at 3550-3750 yuan/ton. Prices of raw coal tar fluctuated, showing an overall narrow downward trend, easing cost pressures for deep processing of coal tar. Downstream, some prebaked anode manufacturers faced production restrictions due to environmental regulations, and most purchased only as needed; electrode paste prices rose slightly, but downstream demand showed no significant improvement, having little impact on the coal tar pitch market; graphite electrode prices rose slightly, but downstream demand remained weak, limiting the overall upward movement. Overall, cost support for coal tar pitch was weak, and demand was mainly driven by immediate needs, offering limited support. The coal tar pitch market is expected to remain relatively stable this week.

Needle Coke Market

Last week (November 3-7), my country's needle coke market saw a slight upward trend, with the average price of raw coke at 5750 yuan/ton and the average price of cooked coke at 7840 yuan/ton. The price of raw petroleum coke continued its upward trend. During the week, a major oil-based plant in Northeast China raised its raw coke price, with new orders for raw coke from various companies increasing by 100-300 yuan/ton compared to the previous period. Recently, the oil slurry market has declined, with low-sulfur oil slurry prices decreasing, relatively reducing the production cost of oil-based needle coke. Downstream, anode material companies are actively purchasing raw coke, with leading plants maintaining full-capacity production. The graphite electrode market is in a state of oversupply, with purchases of refined coke mainly for immediate restocking. Overall, the downstream market provides some support for needle coke, and the needle coke market is expected to remain strong and stable this week.

Graphite Electrode Market

Last week (November 3-7), my country's graphite electrode market saw a slight increase, with the average price in mainstream markets at 16,230 yuan/ton. Upstream, petroleum coke prices continued to rise, needle coke and raw coke prices increased slightly, and the coal tar pitch market fell slightly. Graphite electrode raw material prices fluctuated, leading to a continued upward trend in overall production costs for enterprises. Downstream, steel mills are currently experiencing poor profits. Some steel mills have successively announced production cuts or shutdowns, leading to a downward trend in market operating rates and generally weak demand for graphite electrodes. Overall, while cost-side support remains, limited downstream demand has prompted graphite electrode manufacturers to actively seek price increases, and the graphite electrode market is expected to remain stable with potential for further increases this week.

Carbon Additive Market

Last week (November 3-7), my country's carbon additive market saw a slight increase, with an average market price of 4000 yuan/ton. Upstream, petroleum coke prices continued to rise, with calcined coke prices following suit, providing strong cost support for carbon additive manufacturers. Downstream steel mill production showed a clear contraction trend, with several mills undergoing maintenance, resulting in overall poor production activity and limited demand for carbon additives. Overall, while the raw material supply for carbon additives continued its upward trend, insufficient demand support has led to a stable carbon additive market this week. Cathode Carbon Block Market

Last week (November 3-7), my country's cathode carbon block market remained stable. The average market price for high-graphite cathode carbon blocks was 8,300 yuan/ton, and the average market price for fully graphitized cathode carbon blocks was 14,200 yuan/ton. Upstream, low-sulfur raw coke prices continued to rise, and calcined coke producers actively followed suit with price increases. The coal tar pitch market remained weak and stable. Cathode carbon block producers still faced overall cost pressures and had a strong desire to raise prices. Downstream aluminum plants maintained good production activity and postponed maintenance, but overall demand was limited. The phenomenon of low-price competition for orders in the market has not eased, and the actual increase in transaction prices still needs to be implemented. It is expected that the cathode carbon block market will remain relatively stable this week.

Electric Calcined Anthracite Market

Last week (November 3-7), my country's electric calcined anthracite market remained stable, with an average market price of 3,200 yuan/ton. The price of raw material anthracite continued to rise, providing good cost support. Downstream, electrode paste manufacturers face high production costs and weak demand, resulting in limited demand for calcined anthracite. Cathode carbon blocks are currently mostly produced as graphitized cathodes, with some companies having suspended graphitized cathode production [https://www.aohuicorp.com/contact-us/], further reducing demand for calcined anthracite. Overall, while the price of calcined anthracite raw materials has risen slightly, downstream demand remains weak. Companies are producing steadily according to orders, and actual demand is unlikely to increase significantly. With insufficient support from positive market factors, the calcined anthracite market is expected to remain stable this week.

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