SHANGHAI, Jul 4 (SMM) – Last week (June 26-30), SMM prebaked anode prices held steady. Prices in east China concluded between 4,225-7,450 yuan/mt, and in the northwest between 4,675-5,045 yuan/mt. By the month-end, an aluminium smelter in Shandong announced its purchase price for July's prebaked anodes at 4,225 yuan/mt, flat from June but down 40.62% YoY.
Regarding supply, most prebaked anode manufacturers produced based on order volume. As Yunnan's alumium production recovery progresses, prebaked anode orders have increased, causing a slight uptick in production last month. SMM found that orders received by certain Shandong and Guizhou prebaked anode companies from Yunnan have been consistently increasing from June through July.
As for demand, operations resumption continued in Guizhou. Recently, increased water supply enabled Yunnan to enter the recovery phase. SMM predicts Yunnan's aluminium production recovery to reach a scale between 1.1 to 1.3 million mt, significantly boosting prebaked anode demand.
The recovery in prebaked anode demand has modestly raised industry activity. The price of prebaked anodes is expected to remain stable in July. Nevertheless, the raw material market's underperformance last week provides inadequate support for anode price hikes, suggesting a potential dip in prebaked anode prices in August. Cost-side price changes and the prebaked anode production deserve close monitoring.
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