Anode Raw Material Coke Rigid Demand Dominates Market, Prices Lack Significant Upward Momentum [SMM Lithium Battery Anode Raw Material Market Weekly Review]

SMM, June 18:

This week, China’s raw material coke market for anodes largely maintained stable operation, with only some coke plants that previously quoted lower prices slightly raising their ex-factory quotes based on profitability restoration considerations. Demand side, downstream anode material enterprises adopted a cautious procurement pace, mostly using a rigid restocking approach, with weak willingness to proactively stockpile in bulk, leading to insufficient incremental procurement demand in the market. Supply side, some enterprises that underwent maintenance completed their maintenance, gradually releasing effective supply. Overall, the current raw material coke price lacks a strong foundation for an upward drive. Looking ahead, as production resumptions from maintenance capacities continue to come online, the industry’s supply-side incremental expectations are expected to gradually materialize, and the likelihood of a sharp surge in raw material coke prices in the short term is low. Going forward, it will be important to focus on cost-side fluctuations and continuously monitor marginal changes in the upstream and downstream supply-demand pattern.

SMM New Energy Research Team

Wang Cong 021-51666838

Ma Rui 021-51595780

Feng Disheng 021-51666714

Lyu Yanlin 021-20707875

Zhou Zhicheng 021-51666711

Zhang Haohan 021-51666752

Wang Zihan 021-51666914

Wang Jie 021-51595902

Xu Yang 021-51666760

Xu Mengqi 021-20707868

Hu Xuejie 021-20707858