Кальцинированный кокс С приближением двух праздников на отечественном рынке кальцинированного кокса наблюдается стабильная торговая ситуация.
**Calcined Coke: As the Holidays Approach, Domestic Calcined Coke Market Trading Remains Stable**
**Market**
**Overview**
**September 30:** The market average price for calcined petroleum coke is 3,250 RMB/ton, holding steady compared to the previous working day. Today, the low-sulfur calcined coke market continued its stable trend. While raw material costs provide strong support for the market, demand remains relatively weak. Low-sulfur calcined coke producers are maintaining firm prices to facilitate shipments, but actual shipment volumes across companies are generally modest. The medium to high-sulfur calcined coke market saw active trading today. Currently, there is robust demand for standard-grade calcined coke with sulfur content of 4.0-4.5%. Calcined coke meeting specific trace element requirements for aluminum use also faces no pressure in terms of shipments. Some companies, anticipating rising raw material prices, are currently holding a mindset of reluctant sales towards their calcined coke inventory.
**Transaction Prices in Major Regional Markets**
**Today's Prices**
**Low-sulfur calcined coke** (using Jinxi, Jinzhou petroleum coke as raw material): mainstream transaction prices are 5,250-5,500 RMB/ton. Low-sulfur calcined coke (using Fushun petroleum coke as raw material): mainstream ex-factory transaction prices are 6,100-6,200 RMB/ton. Low-sulfur calcined coke (using Liaohe, Binzhou CNOOC petroleum coke as raw material): mainstream transaction prices are 4,950-5,800 RMB/ton.
**Medium-high sulfur calcined coke** (Sulfur 3.0%, no trace element requirements): previous mainstream contract prices were 2,400-2,500 RMB/ton ex-factory cash; today's negotiated prices are around 2,500 RMB/ton ex-factory cash. Medium-high sulfur calcined coke (Sulfur 3.5%, no trace element requirements): previous mainstream contract prices were around 2,350 RMB/ton ex-factory cash; today's negotiated prices are around 2,400 RMB/ton ex-factory cash. Medium-high sulfur calcined coke (Sulfur 3.0%, Vanadium 400): previous contract prices were 3,450-3,600 RMB/ton cash; today's negotiated prices are 3,500-3,600 RMB/ton ex-factory cash.
**Supply Side**
The national daily supply of commercial calcined coke today is 27,318 tons, with an operating rate of 57.19%. The market supply of calcined coke today remained stable compared to the previous working day.
**Upstream Market**
**Petroleum Coke:** Sinopec refineries maintained stable prices for shipments today. Market operations were relatively steady pre-holiday, as downstream stockpiling operations are largely complete, and the market is primarily executing existing orders. Demand for anode-grade coke in the Yangtze River region was good, with refineries operating stably. In the Shandong region, Jinan Refinery primarily produces #2B and anode-grade coke; Qilu Petrochemical sells according to #3C specifications; Qingdao Petrochemical and Qingdao Refinery maintained steady shipments. CNPC refineries in the Northeast region were mostly stable with individual price increases; Liaohe Petrochemical's auction price increased by 50 RMB/ton, while other refineries held prices steady. Fushun Petrochemical's coking unit is planned to restart production around the 10th after the holiday. Refineries in the Northwest region saw stable demand from the aluminum carbon sector. CNOOC refineries shipped according to orders.
**Downstream Markets**
**Graphite Electrodes:** According to feedback from the graphite electrode transaction market, supported by the upward trend in upstream raw material prices and boosted by improved demand during the dddhhhGolden September,dddhhh the actual transaction focus for graphite electrodes shifted slightly upwards. Low-priced resources in the market decreased compared to the previous period, with leading companies raising their quotes, creating a strong follow-up rally atmosphere within the market.
**Electrolytic Aluminum:** Data from the National Bureau of Statistics showed the manufacturing PMI for September rose by 0.4 percentage points compared to the previous month, indicating continued improvement in manufacturing. Coupled with the release of real estate consumption policies in Wuhan City, which increased subsidies for rigid housing demand, the spot aluminum price rose.
**Anode Materials:** The anode material market operated steadily today. Signs of recovery are appearing on the demand side, with orders from downstream battery manufacturers and production scheduling picking up, improving the market trading atmosphere. However, under pressure from ongoing downstream cost reductions, anode manufacturers普遍adopt low-price competition strategies to secure orders, pushing prices for mid-to-low-end products close to the cost line. Anode material prices thus remained low.
**Later**
**Market Forecast**
Trading for low-sulfur calcined coke is expected to remain stable in the near term, with insufficient support from downstream demand. Calcined coke prices are predicted to hold steady. The medium-high sulfur calcined coke market is seeing acceptable shipments, with long-term orders already sold out for some producers. Medium-high sulfur calcined coke is expected to maintain stable prices, focusing on order execution.