Graphite electrodes, remember those. After being the speculative commodity of the day earlier this year, speculation has left the market, but that doesn’t mean prices have fallen to the the old levels. When the spike was in full bloom, sellers were talking about $30,000-per-mt levels in 2018. Since then the spot price has fallen to $17,000-18,000 per mt instead of the $2,000 per mt price at the beginning of 2017.
While most of the long-term agreements have yet to be finalized, one supplier has a $10,000-12,000 pride for a long term (three-year) agreement. Indian suppliers are quoting around $10,000, while Japanese providers are currently at around $8,000 per mt for annual contracts.
Watch this space for more details.