SHANGHAI, May 22 (SMM) - A major aluminium smelter in Shandong cut its May prebaked anode benchmark purchase prices to 4,525 yuan/mt. SMM prebaked anode prices stood between 4,525-7,800 yuan/mt in east China and 4,975-5,345 yuan/mt in north-west China last week, unchanged from a week earlier.
In terms of raw materials, the prices of petroleum coke rose last week amid brisk transactions. CNOOC Taizhou Petrochemical suspended quotations due to maintenance. Daqing Petrochemical raised quotes by 800 yuan/mt. Increased maintenance and production cuts tightened supply, encouraging petroleum coke refineries to raise their offers. However, ample supply may prevent petroleum coke prices from going up further. The market prices of coal tar pitch stopped falling, with its weekly average price up 21 yuan/mt.
Some prebaked anode producers carried out maintenance, while others cut output due to losses. On the demand side, production resumptions by aluminium smelters in Guizhou, Sichuan and Guangxi are slow. Smelters in Yunnan have no hope of resuming production in May as local power supply remains tight.
The current average price of prebaked anode is close to producers’ production costs. Prebaked anode prices are at risk of falling further in June.
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