【SMM Analysis】Costs Remained Stable with Fluctuations, Anode Material Prices Held Steady This Week

SMM April 3 News:

This week, the price of artificial graphite remained stable WoW. Cost side, influenced by the supply-demand relationship, the price of low-sulphur petroleum coke increased by 0.4%, while the price of oil-based needle coke decreased by 0.8%, and the price of graphitisation tolling services remained stagnant. Supply and demand side, the production of downstream battery cell manufacturers increased, leading to a rise in the purchase volume of anode materials. Anode producers accordingly raised their operating rates to meet market demand. In summary, although current downstream demand has increased and theoretical costs have decreased, the sentiment to drive down prices among downstream battery cell enterprises is gradually emerging. However, given the lag in anode material production, the raw materials currently used in production were mostly purchased at high prices earlier. Therefore, the price of anode materials remained in a state of negotiation this week. Looking ahead, cost side, it is expected that theoretical costs will remain stable in the short term. Supply and demand side, there will be no significant fluctuations in the short term. Therefore, it is expected that anode producers will continue to stand firm on quotes in the short term.

SMM New Energy Research Team

Cong Wang 021-51666838

Rui Ma 021-51595780

Disheng Feng 021-51666714

Yanlin Lyu 021-20707875

Zhicheng Zhou 021-51666711

Haohan Zhang 021-51666752

Zihan Wang 021-51666914

Jie Wang 021-51595902

Yang Xu 021-51666760

Mengqi Xu 021-20707868