Release Date: March 17, 2026

According to data from Refractory Window, tensions in the Middle East have disrupted international oil and other energy prices, driving up transportation costs and petrochemical product prices, bringing numerous uncertainties to the industry.

In the first half of March, the market for brown fused alumina and fused magnesia fluctuated due to the cancellation of fixed time-of-use electricity prices; silicon carbide prices rose due to increased smelting costs, while other products remained temporarily stable.

The price of industrial alumina has increased by 10–60 yuan/ton and is still in volatile adjustment, while the markets for white fused alumina and sintered corundum have not adjusted accordingly.

During the Two Sessions, due to environmental protection considerations and the need to adapt to electricity price adjustments, white fused alumina enterprises in Henan failed to operate normally, leading to a slight tightness in white fused alumina supply. In contrast, the capacity release rate of white fused alumina enterprises in Shandong is higher than that in Henan.

The production cost of sintered corundum has increased, but enterprises have generally maintained stable prices. Overall, the sintered corundum market is highly competitive, with large manufacturers maintaining low prices for a long time, making enterprises cautious about price adjustments.

Brown fused alumina prices have risen by 50–100 yuan/ton in Shanxi and Guizhou due to changes in electricity price policies, while prices in Henan have remained basically stable. As electricity price adjustments in Shanxi and Guizhou have just begun, the specific increase is still unclear, leading to varied responses from enterprises. Overall, brown fused alumina prices in Shanxi and Guizhou are in a changing phase, and further adjustments cannot be ruled out in the future.

Driven by the sharp rise in crude oil prices, the supply of petroleum coke and needle coke has tightened, and their prices have continued to rise. Graphite electrode prices have also increased slightly, providing support for the brown fused alumina and white fused alumina markets. With alumina prices continuing to rise, sintered corundum and white fused alumina may face price adjustments in the later stage due to accumulated costs.

Under the superposition of multiple factors, bauxite mining in Shanxi has basically stopped, and bauxite enterprises have once again encountered ore supply difficulties, with low kiln operating rates. However, as users have sufficient inventories, bauxite market trading is generally sluggish. Due to differences in minor indicators, bauxite with the same alumina content shows price discrepancies, leading to a chaotic market price situation.

The flake graphite market is mainly stable, but some enterprises face high inventory pressure and offer small discounts on certain specifications. Currently, large enterprises are preparing for resumption of production, while some small and medium-sized enterprises adopt a wait-and-see attitude toward resumption due to low industry profits and large capital occupation. Downstream demand is also slowly recovering. Given the sufficient supply of low- and medium-end flake graphite, the market will remain stable.

Fused magnesia prices have risen due to electricity price disturbances, while sintered magnesia has temporarily remained stable.

Sintered Magnesia: Affected by environmental protection, sintered magnesia production has not been normal. Prices of dead-burned magnesia and high-purity magnesia are running strong with a general bullish outlook, while medium-grade magnesia is basically produced on demand, with a stable market operation.

Affected by environmental protection, the sintered magnesia market is also relatively tight with production hindered. Dead-burned and high-purity magnesia prices are running strong with a general bullish outlook, while medium-grade magnesia is operating stably.

Fused Magnesia: It is reported that the comprehensive national grid electricity price in Liaoning has increased by 0.11–0.12 yuan/kWh in March, raising production costs for enterprises and fueling continuous price increase calls. Some enterprises have suspended production shortly after resuming post-holiday due to cost pressure. Demand remains weak, with procurement mainly for rigid needs, and overall market transactions are light. Buyers have difficulty fully accepting price increases, making it hard for high prices to be implemented.

Silicon carbide market prices have risen by 100–200 yuan/ton. The main reason for this price increase is cost pressure. Enterprises’ electricity costs increased at the beginning of the year, and tensions in the Middle East have also driven up petroleum coke prices. Based on cost considerations, silicon carbide manufacturers have raised their prices.