Chinese prebaked anode prices to drop
2023-03-30 07:48:53 [Print]
BEIJING (Asian Metal) 30 Mar 23 - Over the past two weeks, the demand for prebaked anode weakened in China and pet coke prices slumped. Therefore, Chinese prebaked anode producers plan to cut offers in the coming week. Present mainstream prices for prebaked anode S 3%max in China keep at RMB5,600-5,700/t (USD813-828/t) EXW, down by RMB190/t (USD28/t) from late last week and producers anticipate less prices late this month.
A Shandong-based prebaked anode producer reported that they might cut the offer by around RMB500/t (USD73/t) to around RMB5,500/t (USD799/t) delivered for prebaked anode S 3%max late this month, as the demand weakened. "We lately sold around 30,000t at around RMB5,900/t (USD857/t) delivered early this month with the freight at around RMB100/t (USD15/t)," said the source, adding that they cut production by around 10% MoM from early this month for the weakened demand. He predicted that prices would slump to no more than RMB5,500/t (USD799/t) delivered late this month.
Based on the production capacity of 700,000tpy, they would produce around 50,000t in March, down from around 58,000t in the previous month and hold no stock now. They produced close to 700,000t in 2022 and around 160,000t so far this year.
Another prebaked anode producer from Shandong confirmed that they now offer around RMB5,900/t (USD857/t) delivered for prebaked anode S 3%max while buyers request around RMB5,500/t (USD799/t) delivered, as the best price for pet coke S 3%max slipped by over RMB500/t (USD73/t) to around RMB2,500/t (USD363/t) EXW over the past two weeks. "We lately sold around 5,000t at around RMB5,900/t (USD857/t) delivered with the freight over RMB100/t (USD15/t) early this month," said the source, who believed that prices would drop quickly late this week.
With two baking furnaces and the total production capacity of 300,000tpy, they would produce around 25,000t this month, similar to last month and hold no stock now. They produced close to 300,000t in 2022 and over 70,000t so far this year.
A Shandong-based prebaked anode producer reported that they might cut the offer by around RMB500/t (USD73/t) to around RMB5,500/t (USD799/t) delivered for prebaked anode S 3%max late this month, as the demand weakened. "We lately sold around 30,000t at around RMB5,900/t (USD857/t) delivered early this month with the freight at around RMB100/t (USD15/t)," said the source, adding that they cut production by around 10% MoM from early this month for the weakened demand. He predicted that prices would slump to no more than RMB5,500/t (USD799/t) delivered late this month.
Based on the production capacity of 700,000tpy, they would produce around 50,000t in March, down from around 58,000t in the previous month and hold no stock now. They produced close to 700,000t in 2022 and around 160,000t so far this year.
Another prebaked anode producer from Shandong confirmed that they now offer around RMB5,900/t (USD857/t) delivered for prebaked anode S 3%max while buyers request around RMB5,500/t (USD799/t) delivered, as the best price for pet coke S 3%max slipped by over RMB500/t (USD73/t) to around RMB2,500/t (USD363/t) EXW over the past two weeks. "We lately sold around 5,000t at around RMB5,900/t (USD857/t) delivered with the freight over RMB100/t (USD15/t) early this month," said the source, who believed that prices would drop quickly late this week.
With two baking furnaces and the total production capacity of 300,000tpy, they would produce around 25,000t this month, similar to last month and hold no stock now. They produced close to 300,000t in 2022 and over 70,000t so far this year.
