Raw Material Market Trends Slightly Diverge, Prebaked Anode Cost Support Remains Firm [SMM Prebaked Anode Weekly Review]

Published: Feb 20, 2025 16:54

Save

[SMM Prebaked Anode Weekly Review: Slight Divergence in Raw Material Market Trends, Prebaked Anode Cost Support Remains Firm] During the week, although raw material market trends showed slight divergence, the cost side support for prebaked anodes remained exceptionally firm. According to SMM data, as of February 20, the cost of prebaked anodes in China reached 6,114 yuan/mt, up 0.25% compared to the Thursday before the holiday. Recently, the significant increase in raw material costs has brought considerable production pressure to enterprises. However, supported by strong downstream demand, enterprises have maintained a high level of operating rates.

SMM February 20 News: Raw Material Side: In the petroleum coke market, due to the rapid price surge in the early stage, downstream enterprises showed strong resistance to high prices, significantly reducing overall purchase willingness. Petroleum coke prices showed divergence during the week. Specifically, CNOOC-affiliated refineries saw moderate sales, with petroleum coke prices continuing to rise but at a slower pace. The latest bidding price increased by 50-150 yuan/mt, with refinery prices now concentrated at 5,650-5,820 yuan/mt. PetroChina-affiliated refineries in north-east China, with low inventory levels, performed well in sales, and petroleum coke prices remained largely stable during the week, currently quoted at 5,510-6,000 yuan/mt. Additionally, Dagang Petrochemical raised its petroleum coke price by 150 yuan/mt to 5,650 yuan/mt during the week. For Sinopec, downstream purchase activity was positive, and refinery sales were moderate, with petroleum coke prices rising slightly within 100 yuan/mt. Meanwhile, local refineries showed poor sales performance, and petroleum coke prices continued to weaken during the week. Currently, the average price of petroleum coke at local refineries is around 3,100 yuan/mt, down 1.05% MoM. In the coal tar pitch market, prices showed slight stability with an upward trend. As of Thursday, SMM data indicated that the average price of coal tar pitch was 4,295 yuan/mt, up 11.9% MoM. Overall, the cost side of prebaked anodes remained particularly strong. In terms of supply, prebaked anode enterprises produced according to orders, maintaining relatively sufficient overall supply. According to SMM, the impact of environmental protection factors on prebaked anode enterprises has significantly diminished, and production at some enterprises is gradually recovering. It is expected that prebaked anode supply will slightly increase this month. From the demand side, the operating capacity of domestic aluminum showed slight growth, and the demand for prebaked anodes in the domestic market performed relatively well. Brief Comment: Although the raw material market showed slight divergence during the week, the cost side of prebaked anodes remained exceptionally strong. According to SMM data, as of February 20, the cost of prebaked anodes in China reached 6,114 yuan/mt, up 0.25% from the Thursday before the holiday. Recently, the significant increase in raw material costs has brought considerable production pressure to enterprises. However, supported by strong downstream demand, enterprises maintained high operating levels. 》Click to View the SMM Aluminum Industry Chain Database

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

11 mins ago

Aluminum Alloy ADC12 Market Edges Up, Driven by Rebound in Aluminum Prices

[SMM Daily Review of Aluminum Alloy] Today, the ADC12 market edged up slightly, driven by the rebound in aluminum prices. Some enterprises raised their quotations by 100–200 yuan/mt, while others chose to hold prices temporarily steady and wait due to the pace of yesterday’s price adjustments or weak demand. In terms of transactions, downstream procurement still mainly met rigid demand, the market trading atmosphere showed no obvious improvement, and demand provided insufficient momentum.

11 mins ago

2 hours ago

Cast Aluminum Alloy Inventory Falls 13,900 mt WoW Amid Widening Spot-Futures Spread and Price Cuts

[SMM Flash News] According to SMM data, cast aluminum alloy social inventory fell 13,900 mt WoW this week, with the decline widening further from last week. First, the spot-futures price spread widened, and spot traders accelerated shipments, driving a faster inventory drawdown; second, overall demand did not improve, low-price competition in the market intensified, and enterprises accelerated the pace of inventory digestion by cutting prices to compete for orders.

2 hours ago

3 hours ago

[SMM Analysis] Aluminum Processing Rates Rebound 1.1% MoM, But Lag Behind Previous Years' Peak-Season Levels

This week, the weekly operating rate of leading downstream aluminum processing enterprises in China rebounded 1.1 percentage points MoM to 64%.

3 hours ago