Quotation Report (June 29, 2026)1. June 29, 2026 Downside Sentiment Prevails Among End Users, Local Refinery Coke Prices Keep Falling
1. June 29, 2026: Downside Sentiment Prevails Among End Users, Local Refinery Coke Prices Keep Falling
The national average price of petroleum coke stands at 3,256 RMB per metric ton, down 2 RMB from the previous trading day, with sluggish overall trading activity. Major state-owned refineries keep prices steady and deliver goods against existing orders; only small-volume rigid demand transactions are seen for anode-grade coke. Local refineries face heavy inventory pressure. At month-end, downstream buyers remain cautious and hesitant to place orders, pushing coke prices broadly lower. Shandong regional average price hits 2,658 RMB/MT, a 16 RMB drop day-on-day. Imported petroleum coke stockpiles at ports stay elevated, while demand from carbon and anode material sectors remains muted. Market outlook: Major state-owned refinery prices will likely hold steady tomorrow, yet local refinery supplies still face modest downside risks.
2. June 29, 2026: Divergent Outlooks for Raw Materials – Low-Sulfur Coke Bullish, Medium & High-Sulfur Coke Under Pressure
The national average price of calcined petroleum coke remains flat, with industry operating rates unchanged. Low-sulfur calcined coke market sentiment stays upbeat on expectations of raw material price hikes next month, with most trades fulfilled via monthly long-term contracts. For medium and high-sulfur calcined coke, raw material fundamentals weaken and downstream buyers hold back purchases, leading to mild price softening. Downstream graphite electrode sector stays weak and stable; anode material market sees limited price volatility, with only rigid demand from aluminum carbon products offering mild support. While geopolitical tensions buoy electrolytic aluminum prices, the boost fails to lift medium & high-sulfur coke supplies. In the short run, low-sulfur coke will stay firm, while medium and high-sulfur coke will hover at weak stable levels.
3. June 29, 2026: High Raw Material Costs Underpin Flat Prebaked Anode Futures Prices
China’s prebaked anode market trades sideways. Raw material trends show divergence: state-owned refineries hold prices firm while local refineries cut prices; new coal tar pitch orders are poised to rise. Overall high raw material costs support anode quotations. Anode manufacturers maintain high operating rates. New electrolytic aluminum capacity in Inner Mongolia and Xinjiang continues to ramp up, sustaining steady rigid purchasing demand. Mixed bullish and bearish raw material factors offer limited price support, with no large-scale restocking across the market. Prebaked anode prices will stay range-bound in the near term. Transaction prices: Low-end ex-factory tax-inclusive prices: 5,459–5,809 RMB/MT; High-end prices: 5,759–6,109 RMB/MT.
4. June 29, 2026: Geopolitical Conflicts Lift Overseas Futures; Domestic Spot Aluminum Rallies Marginally
Domestic average electrolytic aluminum price is 22,995 RMB/MT, rising 39 RMB day-on-day. Escalating US-Iran military tensions push overseas aluminum futures higher. Improved industrial enterprise profits from January to May lift market expectations for metal consumption. East China market: Holders actively sell goods, yet buyers stay bearish and resist taking delivery, resulting in poor transaction volumes. South China market: Buyers only make rigid demand purchases, with ample circulating supplies and muted trading activity. Short-term forecast: Domestic spot aluminum prices will fluctuate within the range of 22,850–23,150 RMB/MT.