Graphite Electrode Market: Inquiries Increase, Market Transactions Gradually Improve
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Industry News
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Release time:
2025/11/17
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Starting from the end of August, overseas orders have begun to recover gradually, though they’re still far from reaching pre-pandemic levels. Domestic graphite electrode companies report that inquiries have recently started increasing, and some are already placing contracts for December deliveries—primarily from the Middle East and Russia, with Russia accounting for a relatively larger share. In the first half of this year, Russia’s steel production declined by less than 5%, so demand has remained relatively stable. By contrast, the European market—which previously accounted for roughly half of China’s exports—experienced a nearly 20% drop in steel production this year, leading to weak demand.
Regarding exports: Starting from the end of August, overseas orders have begun to recover gradually, though they remain far below pre-pandemic levels. Domestic graphite electrode companies report that inquiries have recently started to increase, and some are already placing orders for December contracts—primarily from the Middle East and Russia. In the first half of this year, Russia’s steel production declined by less than 5%, resulting in relatively stable demand. By contrast, the European market—which previously accounted for roughly half of China’s graphite electrode exports—experienced a nearly 20% drop in steel production this year, leading to weak demand. As exports gradually pick up, the domestic graphite electrode market is expected to maintain a steady upward trend in the near term. As of September 17, the mainstream prices on the market were approximately RMB 12,800–13,800 per ton for UHP450mm specifications with a needle coke content of 30%; RMB 16,000–17,000 per ton for UHP600mm specifications; and RMB 22,000–24,000 per ton for UHP700mm specifications.
Raw materials: This week, domestic raw material prices continued to rise. Currently, the quoted price for No. 1 A petroleum coke from Fushun Petrochemical stands at 1,800 yuan per ton, while the quoted price for low-sulfur calcined coke ranges from 2,900 to 3,100 yuan per ton, up by 100 to 150 yuan per ton. The recent consecutive price increases have led to only moderate sales activity. However, companies plan to further raise prices next week. This week, domestic needle coke prices remained stable yet showed an upward trend. Yida raised its needle coke price by 500 yuan per ton, and a few other manufacturers also slightly increased their electrode coke prices. As of Thursday, the mainstream market quotes for coal-based and oil-based products in China ranged from 4,500 to 6,000 yuan per ton.
From the steel mill's perspective: Steel prices saw a slight decline this week. Recently, the Jiangnan, South China, and Southwest regions have experienced moderate to heavy rainfall, and overall trading of construction steel remains sluggish. Merchants are facing some pressure to offload their inventories. Coupled with the continued downward trend in the futures market, market sentiment has become somewhat volatile. It is expected that this round of adjustment will persist into next week, though there is limited room for further price declines—after all, many small- and medium-sized long-process steel mills have already reached near the break-even point. Based on calculations for independent electric arc furnaces (using entirely scrap steel) in the East China region, the full cost of rebar (weighed, flat-rate electricity) stands at 3,723 yuan per ton, down 48 yuan per ton from last week. The profit margin between electric furnace steel and converter steel has narrowed to 51 yuan per ton (for rebar).
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Keywords:
Jiasheng
Carbon
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