SMM: Domestic Prebaked Anode Costs Decline, Raw Material Markets Weaken

Published: Dec 19, 2025 15:05

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[SMM aluminum update] This week, the cost side of domestic prebaked anodes performed poorly, with the cost center shifting downward. According to SMM data monitoring, as of December 18, the cost of prebaked anodes in China was approximately 5056 yuan/mt, a decline of 1.26% WoW. In terms of the raw material market, petcoke prices continued to weaken, and downstream enterprises showed low purchase willingness, generally adopting a wait-and-see attitude. Coupled with a sluggish trading atmosphere, SMM expects petcoke prices to continue fluctuating downward next week. The coal tar pitch market also faced pressure, with a lack of upward momentum in raw coal tar prices on one hand, and an increase in operating rates of deep processing enterprises on the other. Meanwhile, the procurement enthusiasm of downstream prebaked anode enterprises slowed down. Under the combined influence of multiple factors, it is expected that coal tar pitch prices will fluctuate downward next week. In summary, the raw material markets for prebaked anodes have all weakened, with reduced cost support. Prebaked anode prices are unlikely to have upside room next month, and future attention should be continuously focused on the supply-demand changes and price trends in the prebaked anode and its raw material markets.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

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