Spain's Carbon Electrode Price Falls Notably to $6,124 per Ton

Spain Carbon Electrode Export Price in October 2022

In October 2022, the carbon electrode price amounted to $6,124 per ton (FOB, Spain), dropping by -17.1% against the previous month. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in September 2022 an increase of 13% against the previous month. As a result, the export price attained the peak level of $7,390 per ton, and then reduced sharply in the following month.

There were significant differences in the average prices for the major foreign markets. In October 2022, the country with the highest price was South Korea ($9,741 per ton), while the average price for exports to Mexico ($4,368 per ton) was amongst the lowest.

From January 2022 to October 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+24.5%), while the prices for the other major destinations experienced more modest paces of growth.

Spain Carbon Electrode Export Prices by Type

Prices varied noticeably by the product type; the product with the highest price was carbon electrodes not for furnaces ($94.2 per kg), while the average price for exports of carbon electrodes for furnaces totaled $6,112 per ton.

From January 2022 to October 2022, the most notable rate of growth in terms of prices was recorded for the following types: carbon electrode not for furnaces (+51.1%).

Spain Carbon Electrode Exports

In October 2022, overseas shipments of carbon electrodes decreased by -52.2% to 4.3K tons for the first time since July 2022, thus ending a two-month rising trend. Overall, exports continue to indicate a perceptible reduction. The most prominent rate of growth was recorded in May 2022 when exports increased by 39% against the previous month. Over the period under review, the exports reached the peak figure at 9K tons in September 2022, and then plummeted in the following month.

In value terms, carbon electrode exports fell significantly to $26M (IndexBox estimates) in October 2022. In general, exports continue to indicate a perceptible curtailment. The most prominent rate of growth was recorded in September 2022 when exports increased by 57% m-o-m. As a result, the exports attained the peak of $67M, and then reduced sharply in the following month.

Spain Carbon Electrode Exports by Type

Carbon electrodes for furnaces (4.3K tons) was the largest type of carbon electrode exported from Spain, with a 99.9% share of total exports. It was followed by carbon electrodes not for furnaces (569 kg), with less than 0.1% share of total exports.

From January 2022 to October 2022, the average monthly rate of growth in terms of the volume of export of carbon electrodes for furnaces amounted to -4.2%.

In value terms, carbon electrodes for furnaces ($26M) remains the largest type of carbon electrode exported from Spain, comprising 100% of total exports. The second position in the ranking was held by carbon electrodes not for furnaces ($54K), with a 0.2% share of total exports.

From January 2022 to October 2022, the average monthly growth rate of the export volume of carbon electrodes for furnaces stood at -3.3%.

Spain Carbon Electrode Exports by Country

Saudi Arabia (824 tons), the United States (583 tons) and Italy (525 tons) were the main destinations of carbon electrode exports from Spain, with a combined 45% share of total exports.

From January 2022 to October 2022, the biggest increases were in the United States (with a CAGR of +415.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($5.5M), the United States ($3.8M) and Italy ($3M) appeared to be the largest markets for carbon electrode exported from Spain worldwide, with a combined 47% share of total exports.

In terms of the main countries of destination, the United States, with a CAGR of +543.0%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Factors Affecting Carbon Electrode Prices

Carbon electrode prices in Spain have been on the rise in recent years, due in large part to increased demand from the country's growing manufacturing sector. There are a number of factors that could impact prices in the future.

First, there is the issue of supply. Carbon electrode production is a highly specialized process, and there are only a handful of companies around the world that have the ability to produce them. This limited supply could put upward pressure on prices if demand for carbon electrodes increases.

Second, there is the question of raw materials costs. The primary raw material for carbon electrodes is petroleum coke, and prices for this commodity have been volatile in recent years. If the cost of petroleum coke rises, it will likely lead to higher prices for carbon electrodes as well.

Finally, there is the issue of government regulation. Carbon emissions are closely regulated by governments around the world, and this could impact the price of carbon electrodes if stricter regulations are put into place.

Source: IndexBox Market Intelligence Platform