[SMM Analysis] Low-Sulphur Petroleum Coke Prices Continued to Rise in December, While Needle Coke Prices Slightly Declined

SMM January 6 News: In December, the average price of low-sulphur petroleum coke was 3,197 yuan/mt, up 18.2% MoM. The key reason lies in the year-end rush for installations and stockpiling by downstream battery cell enterprises, with demand remaining high. Coke plants experienced ideal sales conditions, while supply was relatively tight. Against this backdrop, refineries mostly followed market trends and continued to raise quotations for low-sulphur petroleum coke. Entering January, as the Chinese New Year approaches, the sentiment for rush purchases among anode enterprises is expected to weaken. Overall, although short-term demand may pull back, the likelihood of a price decline remains relatively small due to the still-tight overall market environment. In December, the average price of oil-based green needle coke was 4,930 yuan/mt, down 0.40% MoM. During December, downstream anode enterprises were in a stockpiling cycle, and demand rebounded. However, as some needle coke plants launched new capacity at the end of November, the growth in demand was still insufficient to fully absorb the additional production, leaving the market in an oversupply situation. Refineries were forced to slightly lower their quotations. In January, as the Chinese New Year approaches, procurement volume has declined, and anode plants have shown intentions to press down prices. However, since needle coke prices have remained at low levels, coke plants, with limited profit margins, have refused further price cuts. Currently, needle coke prices are in a stalemate, and it is expected that oil-based green needle coke prices will remain stable in January. SMM New Energy Research Team Cong Wang 021-51666838 Xiaodan Yu 021-20707870 Rui Ma 021-51595780 Ying Xu 021-51666707 Disheng Feng 021-51666714 Yujun Liu 021-20707895 Yanlin Lü 021-20707875 Ye Yuan 021-51595792 Chensi Lin 021-51666836 Zhicheng Zhou 021-51666711 Haohan Zhang 021-51666752 Zihan Wang 021-51666914 Xiaoxuan Ren 021-20707866 Yushuo Liang 021-20707892 Jie Wang 021-51595902 Yang Xu 021-51666760 Mengqi Xu 021-20707868

SMM

[SMM Analysis] Low-Sulphur Petroleum Coke Prices Continued to Rise in December, While Needle Coke Prices Slightly Declined

CMOC: Copper production in 2024 is up 55% YoY, refined cobalt production is up 106% YoY, and molybdenum production slightly decreased.

Aluminum Prices Decline Further, Secondary Aluminum Prices Slightly Drop Steadily [ADC12 Price Daily Review]