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Graphite Electrode Price Trend In February 2021

1. At the beginning of the Chinese new year 2021, the price of graphite electrodes went up

In the first week after the Spring Festival (2.12-2.20), the price of graphite electrode raw material low-sulfur calcined coke began to rise. After the Spring Festival, the supply of graphite electrode market is still tight. In addition, driven by the high prices of graphite electrode raw material petroleum coke, low-sulfur calcined coke,needle coke and coal tar pitch, the price of graphite electrodes also ushered in the first wave of increase in the beginning of the year, with an increase of 500-1500 yuan/ton. The main targets of this price adjustment are ordinary power graphite electrodes and high power graphite electrode.

As of February 20, 2021, mainstream prices for graphite electrodes in China with a diameter of 300-600mm: ordinary power 1,2000-14,000 yuan/ton; high-power 13,500-16,000 yuan/ton; ultra-high-power 14,000-19500 yuan/ton.

2. Graphite electrode market analysis
In terms of production-- According to the current market feedback, during the Spring Festival, most mainstream graphite electrode companies maintain regular production status in order to deliver orders after the holiday on time. After the holiday, mainstream graphite electrode companies basically maintained the pace of the production, and still focused on completing pre-orders. The overall start-up of the graphite electrode market remains at a low-to-mid level. In addition, the mainstream graphite electrode companies have sufficient orders. Some companies said that the orders have been received until March. The overall supply of stock resources in the graphite electrode market can be seen to be tight.

In terms of inventory-- uring the Spring Festival, there was basically no transaction in the graphite electrode market, mainstream graphite electrode companies were producing regularly, and graphite electrode companies had a slight increase in inventory. After the Spring Festival, graphite electrode companies will gradually decrease their inventories after the delivery of early orders from downstream companies. Overall, the graphite electrode market inventory remains at a low-to-medium level.

In terms of demand-- China's graphite electrode market demand is mainly reflected in the steel market, export market and metal silicon market.

1). Steel market: After the Spring Festival, mainstream steel mills in the downstream graphite electrode market have pre-stocked inventory, and some steel companies have not yet started resume, and steel mills are not willing to purchase in the short term. But at this time, mainstream graphite electrode companies are supported by pre-orders, and the lack of downstream demand in the short term will have little impact on the graphite electrode market.

2). Silicon metal market: The silicon metal industry has not yet passed the dry season. In the short term, the silicon metal industry will continue to be weak and the demand for graphite electrodes will continue to be stable and weak.

3). Export market: According to market feedback, the graphite electrode export market has not performed strongly recently. There are two main factors affecting the export market in the near future.

One is the impact of transportation. The recent epidemic situation is still in a state of recurrence. The control of the epidemic situation in some regions such as Hebei and Xinjiang in China has not been liberalized, and companies still have difficulties in shipping and transportation. In addition, the recent increase in freight rates in the export market has made it difficult to find export ships, which has added a certain degree of difficulty to the graphite electrode export market.

The second is the EU's anti-dumping investigation on China's graphite electrodes. Anti-dumping measures last for a long time. An anti-dumping case usually takes more than one year from filing to final decision, and the tax period is as long as five years. If the results of the anti-dumping investigation are implemented, the export situation of Chinese graphite electrode companies will be brought to a certain extent. Degree of influence. Since 1998, China's graphite electrodes have been successively conducted anti-dumping investigations and imposed anti-dumping duties by India, Brazil, Mexico, the European Union and the United States. Chinese companies have a certain ability to deal with the risks brought by anti-dumping, and the EU's anti-dumping investigation results have not yet landed. In the short term, companies that import Chinese graphite electrodes may stock up.

On the whole, the demand side of the graphite electrode market performance is acceptable, and as the downstream steel plants of graphite electrodes continue to start resume, the stocks of mainstream steel plants are gradually depleted. It is expected that the demand for graphite electrodes from steel plants will gradually recover in March; and it is expected in April. Around the time, the silicon metal industry will pass the dry season, the operating rate of the silicon metal industry is expected to rise, and the demand for graphite electrodes is improving.

Market outlook: On the whole, the graphite electrode market shows that the supply of ultra-high power medium and small specifications is tight and the demand is good. Under the influence of the upward trend in the prices of upstream raw materials, graphite electrode companies have tended to be pricey in order to maintain normal production and sales plans, and the market is bullish. It is expected that next week, the price of graphite electrodes is still expected to rise, and the upward range is expected to be around 1,000 yuan/ton.

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