China electrode prices show no sign of recovery for now
Oct 28, 2019 08:40
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Mysteel’s national average price of 600 ultra-high-power (UHP) grade electrodes in East China’s Jiangsu province kept stable on week at Yuan 45,000/t ($6,338) including the 13% VAT as of October 25, still at a 28-month low, according to Mysteel’s database.
“Given the weak demand recently, even a slight price recovery in the domestic graphite electrode market doesn’t seem possible in the near term,” said a Shanghai-based market watcher.
The recent weakening of steel prices continued squeezing the profit margins of electric arc furnace (EAF) steelmakers, dampening their enthusiasm for production