Weiqiao lowers prebaked anode buying price for six straight months

Published: May 31, 2018 14:46

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Weiqiao Group has lowered its purchasing prices for prebaked anode by 190 yuan/mt for June, marking a decline for six consecutive months, SMM learned.

SHANGHAI, May 31 (SMM) – Weiqiao Group has lowered its purchasing prices for prebaked anode by 190 yuan/mt for June, marking a decline for six consecutive months, SMM learned.

This followed further negotiations with producers as some did not accept an earlier downward adjustment of 300 yuan/mt as the prebaked anode industry is in a loss.

The adjustment brought the prices for June to stand at 3,200 yuan/mt in cash and 3,235 yuan/mt on acceptance, SMM learned.

Fierce competition was seen among prebaked anode producers due to oversupply in the market.

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