[Shangtai Technology] Peak Season Approaching, Anode Price Increase on the Horizon - 260729

English summary

# Prices have taken the lead: According to SMM/BaiChuan Yingfu, graphitization outsourcing prices have rebounded more than 15% from the bottom. Box-type furnaces are quoted at RMB 8,900-9,400/ton, and Acheson furnaces at RMB 9,900-10,400/ton, with clear signs of stabilizing and rebounding. # Catalysts are in place: Downstream production schedules enter the traditional peak season in August-September, coupled with the consumption tax increase and export tax rebate adjustment window, creating strong demand for front-loading orders. Second-tier battery manufacturers have already locked in capacity at higher prices, which may force leading companies to accept price increases; implementation is only a matter of time. [Shangtai], as a leading anode material company with a high self-supply rate of graphitization, has a cliff-like cost advantage. With integrated cost reduction and peak-season flexibility, we strongly recommend it at current levels!