China's prebaked anode exports stood at 133,000 tonnes in October, down 42% from a year earlier, on a decline in capacity utilization rate of aluminium smelters, according the General Administration of Customs of the People's Republic of China (GACC).
2019-2023 Prebaked Anode Exports
Source: GACC
As a major carbon producer, China has witnessed a substantial growth in prebaked anode exports in recent years, with an average annual compound growth rate of 22.15% over 2019-2022. The volume, in particular, touched a new high of 2.15 million tonnes in 2022, with a year-on-year increase of 12%, according to GACC. However, the falling capacity utilization rates of aluminium smelters significantly affected the prebaked anode exports in 2023, and the annual export volume is predicted to be 1.75 million tonnes, down nearly 400,000 tonnes, or 18% from last year.
2022-2023 Prebaked Anode Monthly Exports
Source: China Customs
It can be seen from the above chart that compared with 2022, prebaked anode exports in 2023 only saw an uptick in January, June and September, and posted decreases to various degrees in other months. The figure in May, especially, dropped as much as 47%, and that in October also waned 42%.
Shandong Prebaked Anode Prices
Source: OilChem
However, the prebaked anode prices in 2023 fell to the lowest level since the second quarter of 2021, in the wake of an impressive drawdown in prices of feedstock petcoke and coal tar. As of November 25, the prices have slipped by Yuan 2,452/t compared to the beginning of 2023, and OilChem expects the prices might continue to inch down in December.
Written by Catherine Sun, sss@oilchem.net
Edited by Aggie Hu, huchenying@mysteel.com
