Anode grade coke prices saw a correction in June 2022 after increasing continuously for the last three-four months.
The availability of anode grade coke has increased compared to last month due to the increase in production of coke in China.
Prices of China’s low-sulphur coke (less than 1%) have edged down by $100/t. However, demand for coke of south American origin is strong due to its low sulphur content.
Anode coke prices with S3% have corrected to $550-600/t, down from $750-800/t last month.
Chinese anode grade coke prices were high for the last few months due to the government’s efforts to improve air quality and the Russia-Ukraine conflict. However, price correction happened due to the reduction in aluminum prices.
Anode grade coke is mainly used in manufacturing calcined pet coke, a raw material for the aluminum industry.
Key global deals
As prices declined, one of India’s leading calcined pet coke producers, Goa Carbon, sourced a 33,000 t cargo from Kuwait at $344/t FOB, with freight cost of $43/t.
Argentina’s YPF refinery has floated a tender recently for 25,000 t.
No coke from the Melaka Refinery is reported to be sold to India as it was under shutdown.
Calcined pet coke offers cool down
As prices fell, Vedanta booked a 26,000 t calcined pet coke cargo with 3% sulphur at $840/t FOB with freight of $50-55/t (approx.).However, no deals by Hindalco were heard as prices may correct in the coming time.
Calcined pet coke prices in India remained firm following an increase in raw petroleum coke prices since mid-June. Offer prices floated by Indian calciners for low-sulphur (less than 1%) coke are at INR 90,000-92,000/t.
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