India's graphite electrode market prices increase in June 2021

June 2021. Graphite electrode market prices rise in India. The price of UHP600 will rise from Rs 290,000 / ton to Rs 340,000 / ton. HP450mm electrode price increased from Rs 225,000 / t to Rs 275,000 / t (22% increase). And the delivery time has been extended to September.
What caused the rise in prices?
The main reason for this price increase is the price of raw material needle coke. Imports of needle coke rose from $1,500 / ton to $2,000 / ton. That's up 33%, and it could go up even more.
Graphite electrode market
Recently, the price of iron ore has a strong trend, closing at $200 / ton on May 16, up more than 20% from the price on May 27. As the price of iron ore continues to rise, the cost of blast furnace steelmaking will continue to rise, and the cost advantage of electric furnace steelmaking with scrap steel as raw material is reflected.
With the increase of the proportion of electric furnace steelmaking, the demand for scrap steel and graphite electrode will increase. In addition, the current production capacity of graphite electrode should also be considered, because in the past few years, the production capacity of graphite electrode has increased significantly. Under environmental protection policies such as carbon neutrality, some small and medium-sized enterprises will quit, and the industry pattern is expected to be optimized.