China’s Graphite Electrode Prices Gains Further ahead of National Day Holidays
According to the SteelMint sources, the gains in the domestic graphite electrode (GE) prices in China have been extended this week also. The GE prices in the country have moved up by RMB 4,000 -10,000 per tonnes (USD 584 – 1,460/MT) w-o-w basis.
As of Friday, prevailing prices for 450mm UHP grade electrodes are assessed at RMB 62,000 – 70,000/MT (USD 9,056 – 10,224/MT), 600mm UHP electrode at RMB 100,000-120,000/MT (USD 14,606 – 17,527/MT) and 700mm UHP electrodes at RMB 120,000-150,000/MT (USD 17,527 – 21,910/MT).
Many steelmakers have indicated they are increasing their graphite electrodes procurement ahead of the National Day holidays for a week starting from 1 Oct’18 and also amid concerns over GE supply in the last week of September given the tightness in current supply and low inventory levels.
In case of GE procurement for the October month, the steel mills will purchase it after the National Day holiday. Production restriction policy for this year's heating season has been in focus lately and market speculations have led to a sharp plunge in GE prices especially over past two weeks.
In the case of raw materials, the needle coke prices were quite stable in the country this week. Right now, prices of needle coke for graphite electrodes are assessed at RMB 23,000-28,000/MT (USD 3,359 – 4,089/MT) whereas imported needle coke are at USD 3,900-4,200/MT.
source: SteelMint
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