[SMM Analysis: China's Prebaked Anode Production Slightly Declined in December 2024, Overall Demand Remains Stable]
In December, due to environmental protection-related controls, prebaked anode production in multiple regions experienced a slight decline. However, with the gradual release of capacity from new projects in north-west China and the resumption of production after maintenance by certain enterprises, the overall supply reduction was relatively small.
On the demand side, the operating capacity of domestic aluminum smelters showed both increases and decreases, with overall production slightly rising. In January, aluminum enterprises are expected to maintain stable operating capacity, and the demand for prebaked anodes is expected to remain relatively stable.
Additionally, the unexpected price increase of prebaked anodes in January 2025 improved the industry's profitability. Furthermore, some aluminum enterprises have recently been signing prebaked anode procurement contracts for 2025, indicating active demand.
In summary, SMM expects prebaked anode enterprises to maintain high operating rates to meet market demand.
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