In October 2024, China's oil-based needle coke imports were 3,942 mt, up 21% MoM, down 51% YoY; China's coal-based needle coke imports were 4,932 mt, down 24% MoM, up 12% YoY.
In October, the end-use market remained in peak season, and due to previous low purchases, inventories of anode companies were somewhat depleted, leading to a rebound in demand. Electrode companies also had restock-as-needed demand in October, resulting in an increase in oil-based needle coke imports. In November, with the end-use market heat exceeding expectations, downstream customers of needle coke are expected to maintain a certain level of raw material purchases, and needle coke imports are expected to experience only slight fluctuations.
In October 2024, China's oil-based needle coke exports were 5,040 mt, up 183% MoM, up 2% YoY; China's coal-based needle coke exports were 37 mt, up 84% MoM, down 77% YoY.
In October, the overseas market heat rose, and due to previous low purchases by overseas customers, inventories were somewhat depleted. Additionally, factors such as changes in overseas political situations led to increased stockpiling demand by overseas customers, resulting in an overall increase in needle coke exports. In November, overseas customers are expected to continue to have certain advance stockpiling demands, and needle coke exports are expected to remain at high levels.
