Raw Materials in Short Supply: Changes in the Domestic Petroleum Coke Carbon Additive Market

According to research, as of August 31, 2026, market prices for domestic petroleum coke carbon additives (C ≥ 98.5%, S ≤ 0.5%, 1–5 mm) remained high: 7,500–7,800 yuan per metric ton in the Liaoning region, with no quotes available in the Tianjin region.

The fundamental reason for the persistently high prices lies in cost support from the raw material side. Regarding production resumption, refineries that underwent concentrated maintenance in the first half of the year have gradually resumed operations since August, leading to a significant rebound in the overall operating rate compared to the previous month. However, production volume remains limited, and raw materials are still in short supply.

In stark contrast to the strength on the cost side, downstream demand remains lackluster. As the core consumer sector for carbon additives, the steel industry is currently experiencing weak demand for steel products. With steel mills’ profits under pressure, most are limiting purchases to essential needs and are strongly inclined to drive down prices, resulting in limited acceptance of high carbon additive prices.

The petroleum coke carbon additive market is currently caught in a classic “cost-driven, demand-constrained” dynamic. In the short term, prices for petroleum coke carbon additives are expected to remain at elevated levels in a stalemate, with costs providing a floor while demand remains weak and transactions driven primarily by essential needs. Market participants must closely monitor raw material supply and steel mill dynamics to effectively manage procurement, sales, and inventory levels.