SHANGHAI, May 31 (SMM) – Weiqiao Group has lowered its purchasing prices for prebaked anode by 190 yuan/mt for June, marking a decline for six consecutive months, SMM learned.
This followed further negotiations with producers as some did not accept an earlier downward adjustment of 300 yuan/mt as the prebaked anode industry is in a loss.
The adjustment brought the prices for June to stand at 3,200 yuan/mt in cash and 3,235 yuan/mt on acceptance, SMM learned.
Fierce competition was seen among prebaked anode producers due to oversupply in the market.
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