[SMM Weekly Review] The polarization is obvious and the price of negative electrode materials continues to be weak.

SMM news on March 22:

Anode material prices are running weakly this week. In terms of cost, the price of low-sulfur petroleum coke remains stable. Currently, some refineries have begun maintenance, and subsequent supply may be reduced; oil-based needle coke coke has high cost pressure due to the continued rise in the price of raw material low-sulfur oil slurry, and the price has increased. The price has been raised, but the current profit margin is still extremely limited. As the market picks up in the future, there may be further price increases; the current price of graphitization outsourcing is still low, and the overall operating rate of the industry is low. In terms of demand, the recovery of the terminal power energy storage market has led to a recovery in the production of battery cell factories and increased demand for anode purchases. However, orders are mostly concentrated in front-row anode companies, and the overall anode trend is polarized. The current terminal price war is fiercely competitive, and the pressure to reduce costs is gradually transmitted upwards. Battery cell manufacturers are exerting greater efforts to lower prices. At the same time, the overcapacity problem in the anode industry is still serious. The market recovery has driven companies to increase their competitiveness. It is expected that the price of anode materials will continue to be under pressure. Still weak.