Market update September 24
Last week low sulphur coke (1A, 1B) price took a big step down, dropping 150-200RMB/Ton. Inventory levels have remained high and show no prospects of droppling. Last week, Daqing restarted, though product is not yet ready for sale.
Moderate sulphur coke (2A, 2B, 3A) dropped up to 280RMB/Ton, due to the same problems as for low sulphur coke. Shengli Oil refinery restarted during the week, meaning more coke coming into inventory.
High sulphur coke by up to 170RMB/Ton. Across the industry, inventories are climbing but demand is dropping.
Due to the price decreases in green coke ,the price of calcined coke is also going down. Low sulphur calcined coke dropped 300-400RMB/Ton; Moderate sulphur coke price hasn’t fallen as yet, with some analysts reporting that suppliers are watching the market, in hope that perhaps the slide will stop.
High sulphur calcined coke price dropped 50-100RMB/Ton.
Anode prices started to drop last week, but not on the official market. Although quoted prices remained the same, deal prices are down by up to 300RMB/Ton.
Last week the price of Aluminum (Chalco) slipped to 16000RMB/Ton. Some small smelters are already running at a loss at this price.