Boosted by robust aluminium market, China's prebaked anode supply and consumption jumped 6.89% and 6.12% respectively year-on-year in the first half of 2024, according to OilChem data.
2023-2024 Prebaked Anode Production
Source: OilChem
In the first half of 2024, China's prebaked anode production totaled 11.44 million tonnes, up 6.87% year-on-year, with the average operating rate reaching 76.56%, up 2.30 percentage points year-on-year. In addition, the combined capacity of prebaked anode also rose 360,000 t/y year-on-year to 30.07 million t/y. Meanwhile, the import volume of prebaked anode totaled 3,300 tonnes in H1 2024, up 1,800 tonnes or 117.54% from a year ago. However, the increase in imports had little impact on the overall supply, due to the low base.
Thanks to the rising production of downstream aluminium, the consumption for prebaked anode went up 6.12% from last year and reached about 10.40 million tonnes in the first half. Moreover, the export volume of prebaked anode totaled 1.02 million tonnes, up 117,400 tonnes or 13.07% year-on-year.
Prebaked Anode Supply and Demand Balance (Unit: '000 tonnes)
| Item | Production | Imports | Total Supply | Exports | Consumption | Supply and Demand Balance |
| H1, 2024 | 11,440.00 | 3.30 | 11,443.30 | 1,015.40 | 10,400.00 | 27.90 |
| YoY | 6.87% | 117.54% | 6.89% | 13.07% | 6.12% | 244.68% |
Source: OilChem
Prebaked Anode Supply and Demand Outlook (Unit: '000 tonnes)
| Production | H1 | H2 E | YoY |
| Prebaked Anode | 11,440.00 | 11,800.00 | 3.15% |
| Electrolytic Aluminium | 21,293.40 | 22,050.00 | 4.38% |
Source: OilChem
OilChem predicts the supply and demand of prebaked anode might continue to go up in the second half of 2024, on rising production of aluminium.
Written by Catherine Sun, sss@oilchem.net
Edited by Aggie Hu, huchenying@mysteel.com
