In April, China's prebaked anode exports decreased by 13.45% MoM, while domestic raw material prices rose, leading to a slight increase in export prices [SMM Analysis]

According to customs data, in April 2024, China's export volume of prebaked anodes was 166,800 mt, down 1.07% YoY and down 13.45% MoM. The estimated export unit price of prebaked anodes in April was approximately $673.65/mt, down 31.92% YoY and up 0.31% MoM. The cumulative export volume of prebaked anodes in China for 2024 was 647,300 mt, up 48.25% YoY.
From the perspective of domestic export regions, the export of prebaked anodes in April 2024 was concentrated in Shandong, Jiangsu, and Guangdong. Shandong had the highest export volume at 139,800 mt, accounting for 84% of the total; followed by Jiangsu with an export volume of 11,700 mt, accounting for 7%; and Guangdong with an export volume of 6,500 mt, accounting for 4%.
From the perspective of export countries, in April 2024, China exported prebaked anodes to 15 countries, with the main export destinations being Malaysia, Russia, and Norway, accounting for 64% of the total export volume. The export volume to Malaysia was approximately 58,700 mt, accounting for 35% of the total exports, up 19,600 mt MoM; the export volume to Russia was approximately 25,300 mt, accounting for 15% of the total exports, up 8,200 mt MoM; the export volume to Norway was 23,500 mt, accounting for 14% of the total, up 5,300 mt MoM.
Overall, the export volume of prebaked anode in April 2024 decreased significantly compared to March. Among them, the top 3 export orders from China increased MoM. The reduction was mainly concentrated in Canada, Iceland, the UAE, and Indonesia, totaling 55,200 mt. In terms of price, the export price of prebaked anode slightly increased, but the growth rate was not significant, mainly due to the increase in domestic raw material market prices. In Q2, after the petroleum coke price rose in April, it fell back in May. The demand from downstream petroleum coke enterprises was poor, and the domestic prebaked anode price may return to weakness in June. Export order prices are expected to follow the domestic market with a slight adjustment.