The performance of the raw material market for prebaked anodes showed some divergence during the week. The price of petroleum coke continued to fluctuate downward, while the price of coal tar pitch rebounded slightly. According to SMM data, as of May 22, the cost of prebaked anodes in China was approximately 4,900 yuan/mt, down 2.43% WoW. This situation indicates that the price support from the raw material side is weakening. As the month-end approaches, downstream enterprises of petroleum coke generally adopt a wait-and-see attitude, and the activity of market transactions has declined significantly. Although some refineries have entered the maintenance period, which, to some extent, has provided a floor for petroleum coke prices, under the current supply-demand pattern, petroleum coke prices still lack substantial upward momentum. In the short term, it is expected that petroleum coke prices will continue to maintain a fluctuating downward and adjusting trend. During the week, the prebaked anode market experienced relatively small fluctuations in both supply and demand, while the petroleum coke market on the cost side remained sluggish, gradually weakening its support for prebaked anode prices. Therefore, in the short term, the prebaked anode market prices may still face relatively significant pressure, and close attention should be paid to the dynamics of the raw material market and changes in downstream demand.