Weiqiao lowers prebaked anode buying price for seven straight months amid oversupply

Prebaked anode prices remained stable last week, but are likely to rise on rising raw material prices.

As many regions in northern China will enter the heating season of 2020-2021, and as 2020 is the last year of the three-year action plan to fight air pollution, SMM has recently surveyed and summarised relevant policies and specific measures in “2+26” cities. This article will focus on the effect of the upcoming heating season on China’s prebaked anode industry.

Shandong Weiqiao Group, the top aluminium producer in China, cut its benchmark purchasing price for prebaked anode following a plunge in prices of petroleum coke, raw material for anodes.

This brought the purchasing price for Sep to 2,925 yuan/mt in cash

This followed after it cut prices by the same amount for Jul

This came after it hiked prices for the first time this year by 100 yuan/mt for Jun

Rates fell 3.07 percentage points from Feb to stand at 54.9% in Mar

This followed after it cut purchasing prices by 140 yuan/mt for Feb

The agreement was signed during the first-ever China International Import Expo on Tuesday Nov 6

The most traded SHFE zinc contract fell for the third straight week, in the week ended Nov 2