Weekly Market Analysis: Graphite Electrodes and Needle Coke Firm Costs and Divergent Demand Keep Prices Steady at High Levels

Weekly Market Analysis: Carbon Industry Chain

This week, the domestic carbon industry chain displayed a pattern of strong upward costs, steady demand recovery, and generally stable prices with minor fluctuations.

Specifically, the graphite electrode market remained at a high level, while the needle coke and anode material markets maintained a stalemate, caught between cost pressures and warming demand. The game of checks and balances between upstream and downstream sectors continues.

Graphite Electrodes: Strong Cost Support, High-Level Stability

The graphite electrode market remained stable at high levels this week, with an industry reference average price of 16,935 RMB/ton.

Upstream Raw Materials (Core Support): The market for petroleum coke rose overall, needle coke green coke prices pushed up in tandem, and coal tar pitch prices also followed suit. These multiple raw material price hikes built a solid cost base for graphite electrodes, providing strong support for market prices.

Downstream Demand (Repair & Rigid Demand): The downstream sector showed characteristics of resumed work and rigid demand. The operating rate and capacity utilization of electric arc furnace (EAF) steel mills rebounded significantly, and steel production is gradually returning to normal. However, actual tender volumes for graphite electrodes have not yet expanded synchronously. Industry enterprises are mostly fulfilling rigid orders from existing customers. Consequently, market transaction prices remained generally stable with minor local adjustments.

XINHUI CARBON Update: As a professional graphite electrode manufacturer, XINHUI CARBON remains focused on product quality and customer value. Relying on a stable raw material supply chain and a mature production control system, we continue to provide high-performance, high-stability graphite electrode products to downstream steel and metallurgical enterprises. With reasonable, transparent pricing and efficient, responsive service, we help customers control procurement costs and ensure production continuity, upholding our dual promise of quality and price during cost fluctuation cycles.

Needle Coke & Anode Materials: Cost Pressure, Steady Demand Improvement

The anode material market showed limited volatility this week, with an industry reference average price of 33,123 RMB/ton.

Cost Transmission: Upstream pressure continues to transmit: petroleum coke prices are rising, and the needle coke green coke market is moving higher, directly pushing up production costs for anode materials. Facing raw material supply and price volatility, some anode enterprises have adopted a "production based on sales" strategy to flexibly adjust production schedules and ensure supply chain stability.

Downstream Demand (Positive Performance): Battery enterprise capacity utilization is gradually rebounding to normal levels. Demand in both the power battery and energy storage sectors is warming up. Notably, energy storage orders are performing brilliantly, becoming a key growth driver for anode demand.

Market Outlook: Currently, the supply-demand pattern for anode materials has not significantly improved. Competition for orders is fierce, and with the entire industry chain pushing for cost reduction and efficiency, anode material prices are expected to maintain a stalemate and stable trend in the short term.

Market Outlook

Graphite Electrodes: The market will continue to be supported by strong upstream raw materials. Coupled with the continuous recovery of downstream EAF operations, prices are likely to remain stable rather than fall.

Anode Materials: Under the dual influence of cost rigidity and demand recovery, the market will likely maintain range-bound fluctuations with a stable-to-weak trend.

XINHUI CARBON Commitment: XINHUI CARBON will continue to track industry chain dynamics, optimize product structure and delivery capabilities, and accompany customers through cycles with high-quality graphite electrode products and pragmatic pricing for robust development.