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Mid-Nickel",103.5,99.73,3.78,13.78,6.78,[518,519,520,522,524,526,528,530,532,534,536,538],{"date":213,"value":512},{"date":216,"value":513},{"date":219,"value":521},99.19,{"date":222,"value":523},96.02,{"date":225,"value":525},98.23,{"date":467,"value":527},99.24,{"date":329,"value":529},101.29,{"date":339,"value":531},87.61,{"date":341,"value":533},92.44,{"date":344,"value":535},90.96,{"date":347,"value":537},92.24,{"date":350,"value":539},95.09,{"id":541,"uuid":542,"name":543,"slug":544,"full_slug":545,"content":546,"relatedArticles":657,"relatedVideos":658},112468056248548,"a3fd7705-f427-4481-8796-9208994d3a73","Non-needle pet coke prices rally amid Chinese New Year restocking","non-needle-pet-coke-prices-rally-amid-chinese-new-year-restocking","article/non-needle-pet-coke-prices-rally-amid-chinese-new-year-restocking",{"_uid":547,"date":548,"tags":549,"editor":553,"content":563,"excerpt":631,"featured":50,"reporter":632,"_editable":636,"component":637,"seo_title":543,"categories":638,"visibility":650,"author_company":49,"featured_image":651,"seo_description":631,"author_full_name":49,"author_job_title":49,"formattedDate":655,"formattedArticleDate":656},"5bce4b6b-af28-4e7f-bdf0-2041e08cd5f6","2025-02-10 00:00",[550],{"slug":551,"name":552},"china","China",[554],{"slug":555,"name":556,"content":557},"didi-bostock","Didi Bostock",{"job_title":558,"image":559,"bio":561,"linkedin":562},"Editor - Energy Transition & Economics",{"filename":560},"https://a.storyblok.com/f/287943243085208/512x512/2c5ca5c1a3/didi-bostock.jpeg","Didi is the Energy Transition & Economics Editor at Benchmark, covering a broad range of markets across the energy transition. His remit spans from downstream sectors such as BESS and EVs, through to midstream such as new technologies and battery production, to upstream critical minerals mining. He also leads on financial analysis across these supply chains, alongside in-depth policy analysis.\n","https://www.linkedin.com/in/didi-bostock-656342198/",{"type":564,"content":565},"doc",[566,573,578,587,592,597,604,609,614,621,626],{"type":567,"attrs":568,"content":569},"paragraph",{"textAlign":49},[570],{"text":571,"type":572},"Non-needle petroleum (pet) coke prices rallied in January to their highest level since August-2023 on strong demand from Chinese anode manufacturers, according to the Benchmark Synthetic Price Assessment.","text",{"type":567,"attrs":574,"content":575},{"textAlign":49},[576],{"text":577,"type":572},"“After most of 2024 saw coke prices fall, an uptick in demand for battery anode feedstock in Q4 2024 has been accelerated by a tighter supply picture and restocking activity ahead of Spring Festival in China,” said Benchmark senior analyst Adam Megginson.",{"type":567,"attrs":579,"content":580},{"textAlign":49},[581],{"type":582,"attrs":583},"image",{"id":49,"alt":584,"src":585,"title":49,"source":49,"copyright":49,"meta_data":586},"","https://lh7-rt.googleusercontent.com/docsz/AD_4nXdlmQXM5MwUuqqcO6j6HfdRbf0Ccr-LSYezkuKlnpO0L37mDL_o5yqkM9s2cO-rgXpLYRjYno2ydy28dF4RjBYbdxrMnzOFYMWproGF0GjbKS1Mq-HMc_FSz9mm-VE5L1LG0AUS?key=ehYQUl1anDwvu_epOlKjlF8U",{},{"type":567,"attrs":588,"content":589},{"textAlign":49},[590],{"text":591,"type":572},"The seasonal uptick in buying activity was supported by anode producers’ growing preference for non-needle pet coke feedstocks, which has helped to maintain an upward price trajectory since the second half of 2024.",{"type":567,"attrs":593,"content":594},{"textAlign":49},[595],{"text":596,"type":572},"Conversely, needle coke prices have not witnessed similar upwards momentum in 2025 so far. “Needle coke prices are more closely tied to steel end market demand due to their use in the production of graphite electrodes. This market has experienced limited growth over the same period,which has so far kept needle coke prices stable,” Megginson added.",{"type":598,"attrs":599,"content":601},"heading",{"level":600,"textAlign":49},4,[602],{"text":603,"type":572},"Why are anode producers favouring non-needle pet coke?",{"type":567,"attrs":605,"content":606},{"textAlign":49},[607],{"text":608,"type":572},"Synthetic graphite anode prices have been steadily declining since late 2023 due a sizable market surplus. Under pressure, Chinese synthetic graphite anode players have sought cost savings by pivoting toward cheaper alternatives to needle coke, to maintain competitiveness in what is an increasingly cut-throat domestic market.",{"type":567,"attrs":610,"content":611},{"textAlign":49},[612],{"text":613,"type":572},"While the lower quality end product does not typically meet the specifications of high-end battery applications, such as the high-nickel cells destined for Western EV markets, non-needle coke feedstocks serve as a viable option for applications where cell performance requirements are less stringent, like ESS.",{"type":567,"attrs":615,"content":616},{"textAlign":49},[617],{"type":582,"attrs":618},{"id":49,"alt":584,"src":619,"title":49,"source":49,"copyright":49,"meta_data":620},"https://lh7-rt.googleusercontent.com/docsz/AD_4nXd2YkafwBG1CXSP0W-4_ykFSZF3x-CVLiKb0mM2C94TroffOlBz2Hehfz5XSA05LEzt4pIU0eCGfDFpWFfr86_uine099X818dmO03vxOpQPICxTMSY96q2zJbYWzSeqmkOJboz4w?key=ehYQUl1anDwvu_epOlKjlF8U",{},{"type":567,"attrs":622,"content":623},{"textAlign":49},[624],{"text":625,"type":572},"Indeed, the trend favouring non-needle coke has been most evident amongst Tier 2 and 3 anode players in China, primarily serving domestic ESS and consumer electronics end-use markets. ",{"type":567,"attrs":627,"content":628},{"textAlign":49},[629],{"text":630,"type":572},"But, Benchmark has heard reports of an increasing number of synthetic graphite anode players blending some non-needle pet coke into their production process for use in EV applications to cut costs. A trend that is likely to continue as the anode market faces supply surpluses late into the decade.","Non-needle petroleum (pet) coke prices rallied in January to their highest level since August-2023 on strong demand from Chinese anode manufacturers, according to the Benchmark Synthetic Price Assessment. “After most of 2024 saw coke prices fall, an uptick in demand for battery anode feedstock in Q4 2024 has been accelerated by a tighter supply picture […]",[633],{"slug":555,"name":556,"content":634},{"job_title":558,"image":635,"bio":561,"linkedin":562},{"filename":560},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"5bce4b6b-af28-4e7f-bdf0-2041e08cd5f6\", \"id\": \"\"}-->","article",[639,641,644,647],{"slug":640,"name":261},"anode",{"slug":642,"name":643},"batteries","Batteries",{"slug":645,"name":646},"critical-minerals","Critical Minerals",{"slug":648,"name":649},"graphite","Graphite","private",{"id":49,"alt":584,"name":584,"focus":584,"title":584,"source":584,"filename":652,"copyright":584,"fieldtype":653,"meta_data":654,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/39e88178e2/bm-china-flag.jpg","asset",{"alt":584,"title":584,"source":584,"copyright":584},"Feb 10, 2025","10th February 2025",[],[],1782229495779]