Strong Cost Support from Anode Raw Material Coke, Prices Stabilize at Highs [SMM Lithium Battery Anode Raw Material Market Weekly Review]

Published: Apr 30, 2026 16:34

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[SMM Lithium Battery Anode Raw Material Market Weekly Review: Strong Cost Support from Anode Raw Material Coke, Prices Stabilize at Highs] April 30: This week, China's anode raw material coke market showed divergent trends. Some low-sulphur petroleum coke producers' prices edged up, while oil-based green needle coke prices remained stable.

SMM April 30:

This week, China's anode raw material coke market showed divergent trends, with some low-sulphur petroleum coke plant prices edging up while oil-based green needle coke prices remained stable. Cost side, Brent crude oil prices once again surpassed $110/barrel, providing stronger support for coke prices. Supply-demand side, the supply-demand relationship of needle coke showed no significant fluctuations, and prices remained stable; some low-sulphur petroleum coke refineries underwent maintenance shutdowns, reducing supply, but imported coke arrivals at ports supplemented the market, keeping supply and demand temporarily stable. Looking ahead, attention should be paid to core factors such as crude oil fluctuations and downstream demand. If crude oil prices are likely to fluctuate at highs, coupled with improving downstream anode material industry demand, low-sulphur petroleum coke and oil-based green needle coke prices are expected to stay high and firm in the short term.

SMM New Energy Research Team

Wang Cong 021-51666838

Ma Rui 021-51595780

Feng Disheng 021-51666714

Lv Yanlin 021-20707875

Zhou Zhicheng 021-51666711

Zhang Haohan 021-51666752

Wang Zihan 021-51666914

Wang Jie 021-51595902

Xu Yang 021-51666760

Xu Mengqi 021-20707868

Hu Xuejie 021-20707858

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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