31 May 2024 | 09:13 UTC

Platts proposes to launch daily needle coke price assessments

Platts, part of S&P Global Commodity Insights, is proposing to launch daily low-sulfur uncalcined needle coke spot price assessments on a DDP China basis, effective June 24, 2024.The proposed assessments would reflect needle coke produced during the oil refining process.

Based on latest industry statistics, more than 60% of the world's graphite supply comes from synthetic graphite, with needle coke a key feedstock. Synthetic graphite is used to produce spherical graphite, a crucial component of battery anodes.

The proposal follows the March 2024 launch of natural flake graphite and spherical graphite assessments and aims to bring more transparency in the graphite space. The proposed needle coke assessment would complement Platts full suite of daily battery metals assessments.

In addition to the DDP China assessment, Platts is also proposing to publish an import-parity calculation. The proposed assessments would have the following specifications:

Assessment Name Frequency Type Quality Volume Dimensions Incoterms Timing Payment Terms Unit of measurement
Uncalcined Needle Coke DDP China Daily Assessment
  • Sulfur: ≤0.5%
  • Volatile matter: 4-7%
  • Moisture: ≤5%
  • Ash: ≤0.1%
  • True Density ≥1.35 g/cm³
 Minimum 20 mt Lump DDP Qingdao, China Delivered within 14 days Cash Yuan/mt
Uncalcined Needle Coke DDP China (Import Parity) Daily Calculation
  • Sulfur: ≤0.5%
  • Volatile matter: 4-7%
  • Moisture: ≤5%
  • Ash: ≤0.1%
  • True Density ≥1.35 g/cm³
 Minimum 20 mt Lump DDP Qingdao, China Delivered within 14 days

Cash

$/mt

The import-parity price would be calculated by factoring in the yuan-dollar exchange rate, subtracting Chinese value added taxes, port charges and logistics costs from the assessed needle coke DDP China price. Chinese VAT is currently at 13%.

Platts would additionally publish a monthly average of the daily price assessments.

Platts spot price assessments consider market information reported to Platts and published throughout the day, including firm bids and offers, transactions and indications, as well as any other data deemed relevant to the assessment process. Market information received before the 4:30 pm Singapore (0830 GMT) timestamp would be considered for the daily needle coke assessments.

A full description of Platts assessments methodology can be found here .The assessments would be published on Platts Connect, Platts Market Center, Platts Metals Daily, Platts Nonferrous Metals Alert and in the Platts price database. Platts invites feedback on this proposal to battery_metals@spglobal.com and pricegroup@spglobal.com by June 12.