Anode grade coke prices in China remained firm in May 2022 amid strong buying appetite from traders as demand for electric vehicle batteries remained robust.
Prices of China’s low-sulphur coke (less than 1%) were higher at $1,050-1,060/t. However, no cargoes were available for exports last month amid lockdown restrictions.
Domestic prices for coke in China with 3% sulphur corrected slightly by $100/t m-o-m to $750-760/t.
Chinese anode grade coke prices have remained in a tight range over the last few months due to the government’s efforts to improve air quality. Furthermore, uncertainty due to the Russia-Ukraine conflict also kept prices higher.
Anode grade coke is mainly used in manufacturing calcined pet coke, a raw material for the aluminum industry.
Key global deals
Amid elevated prices, one of India’s leading calcined pet coke producers, Goa Carbon, recently has booked a cargo of 35,000 t from Kuwait at $344/t. The price has been specifically below the current market price due to their long-term contract.
In another deal, 10,000 t of a cargo from Dumai refinery in Indonesia has been booked by Goa Carbon at FOB 928/t, with freight cost at $38/t.
No coke from Melaka refinery in Malaysia was reported to be sold to India as it was under shutdown.
A deal of 35,000 t of cargo was booked from Oman to China at CFR $565/t.
Calcined pet coke offers surge
Notably, tighter availability continued to keep Chinese calcined petroleum coke (CPC) prices high as present offers in the country are in the range of $1,100-1,150/t FOB.
Owing to the spurt in prices, there haven’t been any import shipments for Vedanta or Hindalco.
CPC prices in India also remained firm following a sharp rise in raw petroleum coke (RPC) prices since early April. Offer prices by Indian calciners for low sulphur (less than 1%) are at INR 90,000-92,000/t.
CPC prices are expected to increase due to the uptick of INR 2,600/t in domestic RPC prices last week.
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