Raw material coke cost support for anode remains unchanged; rush-to-buy sentiment cools [SMM Lithium Battery Anode Raw Material Market Weekly Review]

Published: Oct 22, 2026 15:51 (GMT+8)

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[SMM Lithium Battery Anode Raw Material Market Weekly Review: Cost Support for Anode Raw Material Coke Remains Unchanged, Rush to Buy Amid Continuous Price Rise Cools Down] October 22 news, this week, prices of low-sulphur petroleum coke and oil-based green needle coke remained generally stable.

SMM, October 22:
This week, prices of low-sulphur petroleum coke and oil-based green needle coke remained largely stable. Supported by high crude oil prices, low-sulphur petroleum coke stayed resilient to declines, while shipments of mid- and high-sulphur petroleum coke were mediocre, with some independent refiners offering flexible concessions to facilitate deals. Needle coke trading cooled, and the average price of oil-based green coke held flat at 7,550 yuan/mt. Although the anode industry is in its peak season, raw material purchasing has shifted from earlier concentrated restocking to buying as needed. Overall, raw material coke prices have moved from “firm” to “consolidating at highs.” Looking ahead, barring any unexpected supply-demand or cost fluctuations beyond expectations, prices are expected to continue consolidating at highs next week.

SMM New Energy Research Team

Wang Cong 021-51666838

Ma Rui 021-51595780

Feng Disheng 021-51666714

Lyu Yanlin 021-20707875

Zhang Haohan 021-51666752

Wang Zihan 021-51666914

Wang Jie 021-51595902

Chen Bolin 021-51666836

Xu Yang 021-51666760

Xu Mengqi 021-20707868

Hu Xuejie 021-20707858

Yang Le 021-51595898

Wang Zhaoyu 021-51666827

Li Yisha 021-51666730

Huang Chencong 021-51595860

Lin Ziya 021-5166-6902

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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