Chan Ye Xin Xi Wang·2025-08-11 01:36Industry Overview - The anthracene oil industry in China is undergoing deep transformation and structural differentiation due to stricter environmental policies, accelerated technological iterations, and adjustments in downstream demand structure [1][6] - In the first half of 2025, China's anthracene oil production was 1.5523 million tons, a year-on-year decrease of 1.25%, while consumption was 1.5622 million tons, down 0.26% [1][7] Market Dynamics - The price of coal tar, a core raw material for anthracene oil, experienced a sharp decline in the first half of 2025, leading to a loss of support for anthracene oil prices [8] - As of late June 2025, the price of anthracene oil was 3,455 yuan per ton, a year-on-year decrease of 21.89% [8] - The gross profit margin for the anthracene oil industry was -44.26 yuan per ton, a year-on-year decline of 133.21%, indicating a significant increase in losses compared to the same period last year [11] Key Enterprises - Shanxi Coking Coal, as a leading enterprise, has an annual coal tar processing capacity exceeding 2 million tons and ranks high in anthracene oil production [13] - The company has introduced French refining technology, achieving a purity of over 90% for refined anthracene, widely used in dye and pharmaceutical fields [15] - Yongdong Chemical focuses on high-quality carbon black products and fine processing of coal tar, with a sustainable circular industry model [17] Industry Trends - The green and low-carbon transition is accelerating, with carbon reduction technologies becoming a core driving force [19] - Technological upgrades are pushing for high-end applications, with breakthroughs in anthracene oil processing technology [20] - Market demand is diversifying, with emerging markets and differentiated strategies becoming key to overcoming challenges [22]