SMM Analysis: Expectations of Rising Petroleum Coke Prices Support Prebaked Anode Prices

After entering 2024, the benchmark price of prebaked anodes has been stable, while production costs for companies continue to rise and profits are constantly being squeezed. With the arrival of the second quarter, the number of domestic petroleum coke refineries undergoing maintenance has increased, and with the revival of the negative electrode materials market, there is increasing demand for anodes. However, high levels of petroleum coke inventory at ports are suppressing prices, leading to a significant increase in petroleum coke prices.