According to Mining News Pro -With the rising demand for graphite electrodes (GE) in China amid surge in EAFs (Electric arc furnaces) usage for steel production, the market for needle coke (a key raw material for GE) has also been booming.
The needle coke prices in China in the month of October has risen up by 8 to 10% M-o-M basis. While raw coke prices were RMB 13,500-16,500 per tonne (USD 1,940 – 2,385/MT) and calcined needle coke prices were RMB 26,000-31,000/MT (3,730 – 4,450/MT), the tax-inclusive prices for imported needle coke for graphite electrode were in the range of RMB 32,000 – 37,000/MT (USD 4,600 – USD 5,300/MT).
Along with the rising prices needle coke prices its supply is also tight resulting which the end-user carbon enterprises purchased more in the fear that prices may rise further in the coming weeks.
However, as per the latest updates, at present, the needle coke prices are going stable due to fall in downstream steel products prices amid their excess supply. As per a market source based in China, with the start of the winter season especially over the past two weeks, steel prices have been falling amid weak demand. Due to this tepid demand and looser winter output restrictions this year, downward pressure is being built on steel prices and is expected to remain so over next few days resulting which the needle coke prices are anticipated to remain stable with mild fluctuations.
China’s Ansteel Holdings to come up with needle coke plant by mid-2019
According to reports, China-based Ansteel Holdings Co. Ltd is scheduled to launch a needle coke plant with annual production capacity of 40,000 tonnes by mid of the next year 2019.
While the project was initiated in Mar’18, production is expected to come up by June next year. The plant is located in Anshan city of Liaoning province.
Ansteel is engaged in the manufacturing of downstream products. The company has its own coal-tar pitch plant (a key raw material for needle coke) with the annual production capacity of 50,000 tonnes. In the long run, it plans to build a GE plant where it would use this needle coke for in-house graphite electrodes manufacturing.