November Market Conditions for Domestic Calcined Coke

In November, the domestic calcined coke market overall exhibited a fluctuating yet weakening trend. Prices lacked strong upward momentum while maintaining some downward support, with bullish and bearish factors intertwined.

On one hand, cost-side support remained solid. Although raw material petroleum coke prices experienced minor fluctuations, they generally stayed at elevated levels, providing a floor for calcined coke prices and limiting producers' profit-sharing capacity.

On the other hand, weaker-than-expected demand was the primary factor suppressing price increases. Downstream prebaked anode buyers adopted a cautious purchasing stance in November, primarily buying on an as-needed basis. The anticipated surge in bulk stockpiling did not materialize. Meanwhile, while the end-user electrolytic aluminum industry maintained decent profits and high capacity utilization, its support for raw material prices was limited, failing to drive significant upward momentum for calcined coke.

Additionally, market supply remained relatively ample. Some calcination enterprises maintained stable production, ensuring adequate market supply. Against the backdrop of weak demand, this weakened sellers' bargaining power, prompting some enterprises to slightly reduce quotations to facilitate sales. Overall, the calcined coke market in November struggled to balance cost pressures and demand constraints, with prices facing overall downward pressure and exhibiting narrow fluctuations. Market sentiment remained cautious, with actual transactions largely determined through negotiations.