SMM Analysis: February Prebaked Anode Production Declines Despite Operating Recovery, Outlook Positive for March Demand

[SMM Analysis: Short Month Hinders February Prebaked Anode Production Increase, Operating Recovery Fails to Reverse Output Decline]

In February 2025, the production of prebaked anodes continued to decline, but overall operating conditions improved compared to the previous month. However, as February is a short month, overall production did not increase significantly. Currently, prebaked anode enterprises are producing based on orders, and industry supply remains relatively sufficient.

On the demand side, it is expected that in March, with aluminum enterprises reaching full production after restarting their pots, the demand for prebaked anodes will perform well. Additionally, overseas orders for 2025 are also relatively optimistic, presenting a positive overall demand outlook.

In the short term, prebaked anode enterprises are primarily focused on ensuring supply, while downstream aluminum enterprises are slightly increasing their operating rates steadily. SMM predicts that the operating conditions of prebaked anode enterprises may increase slightly in March. Further attention will be paid to the operating conditions of prebaked anode and downstream aluminum enterprises.