【SMM Weekly Review】Pressure from end-user demand is transmitted upwards, anode material prices still face a risk of decline.

This week, the price of anode materials operated weakly. In terms of cost, the price of low-sulfur petroleum coke still experiences minor fluctuations at a high level, with a narrow range of fluctuations expected to continue; the price of oil-based needle coke raw coke remains stable, as current market demand is poor and coke plants still have a certain inventory of raw coke, leading companies to shift their production focus towards petroleum coke and calcined needle coke; the operating rate of graphite processing subcontractors is low, market demand is quite limited, and prices remain low. On the demand side, downstream battery cell production is gradually recovering, increasing the need for anode materials, but priority is often given to fulfilling orders from top-tier suppliers, and production recovery among medium and lower-tier anode materials enterprises is more limited. Currently, there is fierce price competition at the end-market, with the need to reduce costs being passed down progressively to the anode materials sector. anode materials enterprises are currently under significant price pressure, and the issue of excess capacity remains severe, further escalating the pressure on anode material prices. It is anticipated that the price of anode materials might continue to face the risk of further decline in the future.