SHANGHAI, Aug 28 (SMM) – Weiqiao Group planned to raise its September’s purchasing price for prebaked anode on Tuesday August 28, by 220 yuan/mt, but met opposition from all domestic producers who demanded even higher prices. 

SMM expects Weiqiao to make a bigger upward adjustment, by over 300 yuan/mt, from levels in August. The final purchasing price remains under negotiations.

As of August 1, Weiqiao has raised prices by 180 yuan/mt for August, an increase after seven consecutive months of decline. The increase brought August prices to 3,280 yuan/mt in cash and 3,315 yuan/mt on acceptance.

A new round of restocking for the 2018/2019 winter began this month, and SMM believes that this accounted for the gains in prices.