According to Mining News Pro -As of Friday, prevailing prices for 450mm UHP grade electrodes are assessed at RMB 62,000 – 70,000/MT (USD 9,056 – 10,224/MT), 600mm UHP electrode at RMB 100,000-120,000/MT (USD 14,606 – 17,527/MT) and 700mm UHP electrodes at RMB 120,000-150,000/MT (USD 17,527 – 21,910/MT).

According to the market sources, many steelmakers have already made purchases for their graphite electrodes requirement ahead of holiday week for the first half of September till the market returns to the normalcy and in case of GE procurement for the latter half of the month, the steel mills are expected to make purchases after the National Day holidays.

China`s graphite electrode price had registered a continuous fall for two months in July and August which was led by the internal marketing factor where one of the leading electrode plants lowered its price making others to follow its step to reduce prices. However, with prices dropping to cost line along with coordinated efforts by relevant departments, electrode prices stabilized in late August.

In the month of September, steel plants vigorously started taking deliveries due to lower prices in the previous month which resulted in limited stock with the GE suppliers but as demand improved due to upcoming output restrictions in winter heating season starting from October, the graphite electrodes prices moved up once again during the month.

In case of raw materials, the needle coke prices remained same as last week. Right now, prices of needle coke for graphite electrodes are assessed at RMB 23,000-28,000/MT (USD 3,359 – 4,089/MT) whereas imported needle coke are at USD 3,900-4,200/MT.