Other Elements and Materials

What is happening in China’s Graphite Electrode Market?

What is happening in China’s Graphite Electrode Market?
Mining News Pro - SteelMint has heard from its market sources that the Graphite electrode prices in China have climbed up this week by RMB 10,000 to 20,000 (USD 1,440 – 2,880/MT). The major price hike has been observed especially in case of small diameter graphite electrodes.
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According to Mining News Pro -SteelMint has heard from its market sources that the Graphite electrode prices in China have climbed up this week by RMB 10,000 to 20,000 (USD 1,440 – 2,880/MT). The major price hike has been observed especially in case of small diameter graphite electrodes.

As of this week, the prevailing prices for 450-500mm UHP grade electrodes are assessed at RMB 76,000 – 83,000/MT (USD 11,000 – 12,000/MT), 600mm UHP electrode at RMB 105,000-130,000/MT (USD 15,000– 18,680/MT) and 700mm UHP electrodes at RMB 120,000-160,000/MT (USD 17,250 – 23,000/MT).

According to market sources currently the demand for UHP grade GE is quite good because of the ongoing steel production cuts from blast furnaces during winter heating season. The EAF (Electric arc furnace) steel producers are cashing on this opportunity and churning out steel resulting in an increase in GE demand and price subsequently.

Another reason for price rise as quoted by GE producers is the rise in needle coke prices. Currently, the needle coke prices remain tight and domestic prices are firm at RMB 34,000 -37,000/MT (USD 4,880 – 5,300/MT).

As per trade sources it is being anticipated that in the upcoming week although there might be a slight correction in GE prices, in the long run prices are expected to maintain an upward trend.

China`s  Current GE Prices 

Size

Prices in RMB/MT

450-500 mm

76,000 - 80,000

600 mm

105,000 - 130,000

700 mm

120,000 - 160,000

China’s GE export volume up by 43% y-o-y basis during Jan-Sep’18

According to China’s customs data, the country has exported about 247,500 tonnes of GE during Jan-Sep’18. In Sep’18, the same was recorded at 37,036 tonnes a marginal drop of 0.1% against the previous month of Aug’18.

China’s GE exports has been majorly directed to Iran with 36,903 tonnes up by 123% y-o-y basis during Jan-Sep’18. However, post U.S. sanctions on Iran that were announced in the month of August this year, China has stopped its GE exports to China and as per the latest updates, although recently U.S. has announced waiver for China from Iranian sanctions, no trade is taking place due to the absence of a proper payment system in place. As per a trade source, a transaction can take place between the two countries only if an Iranian buyer makes payment to the Chinese seller via non-Iranian bank.

Country’s export volume to U.S. has climbed by 75% y-o-y basis to 18,749 tonnes followed by Russia and Italy with a volume of around 17,500 tonnes and 13,359 tonnes respectively, a surge of 1% and 50% y-o-y basis.

China’s GE exports to South Korea climbed by 81% y-o-y basis to 13,069 tonnes. However, country’s export volume of GE to India dropped by 68% to 4,330 tonnes whereas to Thailand the same has plunged by 21% to 5,415 tonnes.

 


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