SMM January 7 News:
In December, prices of terminal artificial graphite for NEV remained relatively stagnant, maintaining a stable with a weak trend. Cost side, this month, low-sulphur petroleum coke prices continued to rise in line with market trends due to low inventory levels and strong downstream purchase willingness, reaching an annual high. Oil-based green needle coke demand increased in December; however, with the commissioning of new capacity at some refineries, the capacity growth of needle coke far exceeded the growth in downstream demand. Under the market condition of oversupply, prices slightly declined. For graphitisation outsourcing, most downstream orders were low-priced or high-energy-consuming products, with market demand remaining weak and prices stagnant. Overall, the theoretical cost of anode materials increased. Demand side, downstream battery cells were still in the rush for installations and stockpiling stage, with shipments performing well.
Looking ahead to January 2025, cost side, demand for petroleum coke is expected to gradually decrease before the Chinese New Year, and its price may remain stable. Oil-based green needle coke, due to previously low prices and limited profit margins, has led to a sentiment to stand firm on quotes among coke manufacturers. However, affected by weakening demand as the New Year approaches, prices are expected to remain stable in January. For graphitisation, high winter electricity costs have pushed graphitisation outsourcing profits close to the cost line, prompting a strong sentiment to stand firm on quotes, with companies unwilling to further lower prices. Demand side, as the year-end approaches, downstream battery cell manufacturers are expected to reduce production schedules in January, leading to a decline in demand for anode materials. Currently, the upstream raw material side generally shows a sentiment to stand firm on quotes, putting significant survival pressure on anode material companies and intensifying calls for price increases. However, with demand declining, anode material prices are expected to remain stable in January.
SMM New Energy Research Team
Cong Wang 021-51666838
Xiaodan Yu 021-20707870
Rui Ma 021-51595780
Ying Xu 021-51666707
Disheng Feng 021-51666714
Yujun Liu 021-20707895
Yanlin Lü 021-20707875
Ye Yuan 021-51595792
Chensi Lin 021-51666836
Zhicheng Zhou 021-51666711
Haohan Zhang 021-51666752
Zihan Wang 021-51666914
Xiaoxuan Ren 021-20707866
Yushuo Liang 021-20707892
Jie Wang 021-51595902
Yang Xu 021-51666760
Mengqi Xu 021-20707868
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