[SMM Low-Sulphur Petroleum Coke Market Analysis for 5.12-5.16] This week, the low-sulphur petroleum coke market was in the doldrums, with an average market price of 3,906 yuan/mt, down 4% WoW. Cost side, there were no significant fluctuations in raw material prices. Supply and demand side, some refineries had completed their maintenance shutdowns, resulting in relatively sufficient supply. However, the growth momentum of anode demand was insufficient, and the enthusiasm for purchasing anodes in traditional industries was weak. Therefore, under the influence of the aforementioned supply-demand relationship, low-sulphur petroleum coke prices declined this week. Looking ahead, on the supply side, as domestic refineries gradually complete their maintenance shutdowns, supply is expected to increase in the future. On the demand side, due to changes in tariff policies, downstream demand is expected to grow in the future. Therefore, it is expected that low-sulphur petroleum coke prices will adopt a strategy of refusing to budge on prices in the coming period.