Prebaked anode producers oppose bigger cut in Weiqiao's buying price

SHANGHAI, Jul 25 (SMM) – Weiqiao Group planned to cut 150 yuan/mt in its prebaked anode purchasing price for August but it was opposed by all domestic producers on Wednesday July 25, as the industry has been in a loss since two months ago. 

SMM expects the company to adjust its cut to 0-50 yuan/mt, from levels in July. The final purchasing price is still under negotiations.

As of July 2, Weiqiao Group has lowered the prices for seven straight months amid oversupply. The price for this month stood at 3,100 yuan/mt in cash and 3,135 yuan/mt on acceptance. This was 100 yuan/mt lower from that in June.