Raw Material Market Trends Slightly Diverge, Prebaked Anode Cost Support Remains Firm [SMM Prebaked Anode Weekly Review]

게시됨: Feb 20, 2025 16:54

저장

[SMM Prebaked Anode Weekly Review: Slight Divergence in Raw Material Market Trends, Prebaked Anode Cost Support Remains Firm] During the week, although raw material market trends showed slight divergence, the cost side support for prebaked anodes remained exceptionally firm. According to SMM data, as of February 20, the cost of prebaked anodes in China reached 6,114 yuan/mt, up 0.25% compared to the Thursday before the holiday. Recently, the significant increase in raw material costs has brought considerable production pressure to enterprises. However, supported by strong downstream demand, enterprises have maintained a high level of operating rates.

SMM February 20 News: Raw Material Side: In the petroleum coke market, due to the rapid price surge in the early stage, downstream enterprises showed strong resistance to high prices, significantly reducing overall purchase willingness. Petroleum coke prices showed divergence during the week. Specifically, CNOOC-affiliated refineries saw moderate sales, with petroleum coke prices continuing to rise but at a slower pace. The latest bidding price increased by 50-150 yuan/mt, with refinery prices now concentrated at 5,650-5,820 yuan/mt. PetroChina-affiliated refineries in north-east China, with low inventory levels, performed well in sales, and petroleum coke prices remained largely stable during the week, currently quoted at 5,510-6,000 yuan/mt. Additionally, Dagang Petrochemical raised its petroleum coke price by 150 yuan/mt to 5,650 yuan/mt during the week. For Sinopec, downstream purchase activity was positive, and refinery sales were moderate, with petroleum coke prices rising slightly within 100 yuan/mt. Meanwhile, local refineries showed poor sales performance, and petroleum coke prices continued to weaken during the week. Currently, the average price of petroleum coke at local refineries is around 3,100 yuan/mt, down 1.05% MoM. In the coal tar pitch market, prices showed slight stability with an upward trend. As of Thursday, SMM data indicated that the average price of coal tar pitch was 4,295 yuan/mt, up 11.9% MoM. Overall, the cost side of prebaked anodes remained particularly strong. In terms of supply, prebaked anode enterprises produced according to orders, maintaining relatively sufficient overall supply. According to SMM, the impact of environmental protection factors on prebaked anode enterprises has significantly diminished, and production at some enterprises is gradually recovering. It is expected that prebaked anode supply will slightly increase this month. From the demand side, the operating capacity of domestic aluminum showed slight growth, and the demand for prebaked anodes in the domestic market performed relatively well. Brief Comment: Although the raw material market showed slight divergence during the week, the cost side of prebaked anodes remained exceptionally strong. According to SMM data, as of February 20, the cost of prebaked anodes in China reached 6,114 yuan/mt, up 0.25% from the Thursday before the holiday. Recently, the significant increase in raw material costs has brought considerable production pressure to enterprises. However, supported by strong downstream demand, enterprises maintained high operating levels. 》Click to View the SMM Aluminum Industry Chain Database

데이터 출처 설명: 공개 정보를 제외한 모든 데이터는 SMM이 공개 정보, 시장 커뮤니케이션 및 SMM 내부 데이터베이스 모델을 기반으로 가공한 것입니다. 본 자료는 참고용이며 의사결정 권고를 구성하지 않습니다.

문의 사항이 있거나 자세한 정보를 원하시면 아래로 연락해 주시기 바랍니다: lemonzhao@smm.cn

리서치 보고서 열람 방법에 대한 자세한 내용은 아래로 문의하시기 바랍니다:service.en@smm.cn