North America:
In North America, there has been a mixed price trend observed for Graphite in the second quarter in the US spot market. During the initial phase of the quarter, there was a decrease in demand from the end-users of graphite electrodes due to higher inventory levels. The US government experienced a decline in the economic situation as major banks across the USA faced a downfall, resulting in a debt crisis in the US spot market. Consequently, the weakening economy had a negative impact on Graphite consumption, as the demand from the downstream electrode manufacturing industry decreased due to slower steel-making activity in local Electric Arc Furnace-based steel mills throughout the US. Additionally, the price difference between domestically manufactured ultra-high power (UHP) and high power (HP) electrodes became narrower compared to foreign-manufactured electrodes, leading to increased competition from overseas markets. Major market players reported a reduction in the destocking rate, as they already had sufficient supply. Furthermore, the US spot market experienced a lack of urgency among major electrode-producing companies, resulting in an increase in local inventory levels. The rise in coke prices and challenges in increasing trade rates exerted downward pressure on the price of Graphite across US mills. In order to counter the declining market conditions, local mills were motivated to lower their prices to attract more orders.
APAC:
In the Asia-Pacific region, a mixed price trend has also been observed for Graphite in the Chinese spot market during the second quarter. Similar to North America, the demand for graphite electrodes decreased in the initial phase of the quarter due to higher inventory levels. The downstream electrode manufacturing industry in China also experienced reduced demand, as steel-making activity in local Electric Arc Furnace-based steel mills slowed down. Major market players noted a reduction in the destocking rate, as they already had sufficient supply. The Chinese spot market also witnessed a lack of urgency among major electrode-producing companies, resulting in increased local inventory levels. The rise in coke prices and challenges in increasing trade rates exerted downward pressure on the price of Graphite across Chinese mills. The price discrepancy between domestically produced ultra-high power (UHP) and high power (HP) electrodes becomes minimized in relation to foreign-manufactured electrodes, thereby intensifying competition from international markets. Local mills have been stimulated to reduce their prices in order to secure a greater volume of orders and improve the overall state of the declining market.
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Europe:
The price of Graphite exhibits a mixed trend in the German spot market during the second quarter. The demand for Graphite from the downstream electrode manufacturing industry has remained relatively low due to a slowdown in steel production within local Electric Arc Furnace-based steel mills across Germany. The German spot market has witnessed a lack of urgency among major electrode-producing companies, leading to an increase in local inventory levels. Rising coke prices and obstacles in augmenting trade rates exert downward pressure on the price of Graphite across mills in Germany. According to prominent market players, there has been a reduction in the destocking rate as major players already possess a sufficient supply. The initial phase of the second quarter has observed a decline in demand from the end-users of graphite electrodes, as inventory levels remain comparatively high. The price gap between domestically manufactured ultra-high power (UHP) and high power (HP) electrodes is narrowing in relation to foreign-manufactured electrodes, further intensifying competition from overseas markets. Local mills have been motivated to reduce their prices to secure a greater volume of orders and improve the declining market conditions.
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