Severe Overcapacity And Fierce Competition To Still Pressure Lithium Battery Anode Materials Prices

In the week ending November 23, anode material prices slightly fell. Low-sulphur petroleum coke prices stayed steady, whereas oil-based needle coke experienced a minor drop. Needle coke producers refrained from big price cuts due to low output of green needle coke and high raw material costs. Graphitisation outsourcing prices fell, driven by tenders from major downstream manufacturers. Some independent graphitisation factories are near-cost levels or even incurring losses. The downstream EV and energy storage markets continued to show weak demand, exacerbating overcapacity as new anode production lines began operations. Despite potential stabilisation in production costs, market competition and weak downstream demand suggest that anode material prices may face further decreases.