How to Read a GPC Quotation: Eight Levers, Ranked by Dollars Per Tonne
Short answer
The single biggest lever on a GPC quotation is the sulfur specification - worth up to about USD 300 per tonne across the ladder. The most overlooked lever is packing, worth USD 16 to 32 per tonne and almost never discussed. The most dangerous omission is the nitrogen cap, which costs nothing to specify and protects you from the substitution that wipes out a price saving in half a percent of scrap.
Below: a request-for-quotation template you can copy and send, the eight levers ranked with a confidence rating on each one, the payment-terms arithmetic, and a red-flag checklist.
The RFQ that gets comparable quotes back
Most GPC enquiries are two lines long - a grade and a quantity. That is why most GPC quotes cannot be compared. The template below is deliberately over-specified; the fields you do not care about, delete, but the ones left in should force every supplier to answer the same question.
SUBJECT: RFQ - Graphitized Petroleum Coke (GPC) - [YOUR REF] - [DATE]
1 PRODUCT
Material Graphitized petroleum coke (recarburiser)
Fixed carbon target 99.0% min rejection below 98.5%
Sulfur target 0.03% max rejection above 0.05%
Nitrogen 0.03% max (state the value, not "typical")
Ash 0.50% max
Volatile matter 0.50% max
Moisture 0.50% max, ex-works
2 PARTICLE SIZE (give a distribution, not just a range)
Nominal 1-5 mm
Oversize max 5% retained on 5 mm
Undersize max 5% passing 1 mm
Fines below 0.5 mm max 2% at discharge
3 QUANTITY AND TIMING
Trial order 25 MT (+/- 5%, at seller's option)
Indicative annual [X] MT, in [Y] shipments
Delivery window [month] 2026
Lead time from PO please state
4 PACKING
Format 1,000 kg jumbo bags with liner, 4 lifting loops
(alternative: 25 kg bags, 40 per pallet)
Palletisation fumigated, state standard
Marking batch number on every bag
Bulk density please state, t/m3
5 TERMS
Incoterm FOB [port], Incoterms 2020
Alternative please also quote CIF [your port]
Payment [state yours], e.g. 30% TT / 70% against B/L copy
Price validity please state, in days
Currency USD
6 DOCUMENTS REQUIRED
Certificate of analysis per batch, batch number matched to bag marks
Packing list, bill of lading, certificate of origin
Commercial invoice stating HS code used
[Optional] third-party inspection at loading, buyer's cost
7 QUESTIONS WE NEED ANSWERED
- Is this ex your own graphitization capacity or traded?
- Which CPC feedstock sulfur do you use for this grade?
- Can you supply a retained sample from this batch?
- What is your position if fixed carbon tests below 98.5%?
Two lines in that template do more work than the rest. The nitrogen cap costs nothing and closes the substitution route. The particle size distribution - oversize, undersize and fines at discharge - is what separates a quote you can hold a supplier to from one they can satisfy with almost anything that passes through a 5 mm screen.
Eight levers, ranked
What follows is our ranking of what actually moves a GPC price, with an honest confidence rating on each figure. "Published" means we can point at a source. "Derived" means we calculated it from a published input. "Judgement" means it is our experience and you should challenge it.
| Lever | USD/MT impact | Basis | Confidence | |
|---|---|---|---|---|
| 1 | Sulfur spec, 0.05% → 0.03% | 100 – 120 | Published grade bands | High |
| 2 | Sulfur spec, 0.03% → 0.02% | 160 – 180 | Published grade bands | High |
| 3 | Incoterm, FOB → CIF | 80 – 150 | 8–15% of a USD 1,000/t price | Medium |
| 4 | Packing, jumbo → 25 kg bags | 16 – 32 | Derived: 40 bags/t at USD 0.40–0.80 each | Medium |
| 5 | Third-party inspection | 12 – 24 | Derived: USD 300–600 per 25 t container | Medium |
| 6 | Payment terms, 30 → 90 days | ≈ 10 | Derived: 60 days at 6% p.a. | High |
| 7 | Particle size band | 40 – 60 | Published grade bands | High |
| 8 | Order size, container → contract | not published | Judgement - we will not invent a number | Low |
Read that table top to bottom and one thing jumps out: the two sulfur steps together are worth roughly USD 260 to 300 per tonne, which is more than everything else on the sheet combined. If you are negotiating anything else before you have tested whether your melt can tolerate an extra 0.02 percent of sulfur, you are negotiating the wrong thing.
Payment terms, in actual money
Payment terms get negotiated hard and are worth less than people think. The arithmetic is a one-liner:
At 6% annual cost of capital, on a USD 1,000/MT price: 30 -> 60 days +30 days = 0.49 % = USD 4.9 / MT 30 -> 90 days +60 days = 0.99 % = USD 9.9 / MT 30 -> 120 days +90 days = 1.48 % = USD 14.8 / MT On a 500 MT order, 30 -> 90 days is worth about USD 4,900.
Worth having. But set against a USD 260–300 sulfur ladder, it is small - and it is worth noting that a supplier offering generous terms on a tight specification may simply have priced the terms into the product. Ask for both options on the same specification and compare the delta; that delta is the honest number.
Red flags on an incoming quote
Eight things that make us slow down. None of them individually means walk away; two or three together usually does.
- Price far below the grade band. If 1–5 mm low-sulfur material is quoted at USD 700 when the published band is USD 820–940, ask which parameter is not being met. It is almost always nitrogen or the fines fraction.
- No nitrogen figure on the certificate. Published specifications for good material cap nitrogen at or below 0.03%. A COA that lists fixed carbon, sulfur, ash and moisture but not nitrogen is a document someone chose to shorten.
- "Typical analysis" instead of per-batch. A typical sheet describes what the grade usually is. You are buying a container, not a grade.
- Particle size given as a range with no distribution. "1–5 mm" is compatible with 20 percent passing 1 mm. State oversize, undersize and fines limits.
- No stated price validity. With no exchange settlement, an open-ended quote is a one-way option in the supplier's favour.
- 100% TT in advance from a new counterparty. Standard practice for a first order is a partial advance against documents. Full prepayment with no performance bond and no inspection is an unsecured loan.
- Bulk density not stated. Published bulk density for GPC is 0.80–1.05 t/m³ depending on size. That range decides how many jumbo bags fit in your container, and therefore your freight per tonne.
- No answer on whether the material is their own capacity or traded. Both are legitimate. Refusing to say which is not.
What to do with three quotes that disagree
They will. Published grade bands are hundreds of dollars wide for nominally similar material, and two of the most-circulated tables contradict each other on three of four comparable grades - we show both on the price page rather than pick one.
The resolution is not to find the right table. It is to make the quotes comparable. Send all three suppliers the template above, then compare on four numbers only: fixed carbon, sulfur, the fines fraction at discharge, and the landed cost at your discharge port. Everything else is negotiable later; those four are not, and two of them are routinely missing from the sheet.
Frequently asked questions
What should a GPC request for quotation include?Fixed carbon and sulfur with both a target and a rejection limit, particle size with a distribution rather than a range, a moisture cap, a nitrogen cap, quantity, packing format, Incoterm and discharge port, delivery window, payment terms, and the documents you require. The two omissions that most often produce incomparable quotes are the nitrogen cap and the particle size distribution.
What is the biggest driver of GPC price?
The sulfur specification. On published 2026 grade tables, moving from sulfur at or below 0.05 percent to at or below 0.03 percent is worth about USD 100 to 120 per tonne, and 0.03 to 0.02 is worth a further USD 160 to 180. Nothing else on a specification sheet moves the number as far.
How much does particle size affect GPC price?
Less than most buyers assume - roughly USD 40 to 60 per tonne across the standard bands. Published 2026 tables put 5–10 mm at USD 680–760, 0–1 mm at USD 700–780 and 1–5 mm at USD 720–820. Choose on process fit rather than price, because the recovery penalty of a wrong size dwarfs the price difference.
Does packing format change the GPC price?
Yes, and more than suppliers imply. Packing a tonne into 25 kg bags needs 40 bags against one 1,000 kg jumbo; at roughly USD 0.40 to 0.80 per bag that is USD 16 to 32 per tonne in packaging alone, before extra handling labour. If your process can take jumbo bags, say so explicitly in the enquiry - the packaging page works through the loading consequences.
What payment terms should I ask for on GPC?
Whatever your counterparty risk supports. At 6 percent annual cost of capital, extending from 30 to 90 days is worth about USD 10 per tonne on a USD 1,000 per tonne price. That is real across a 500-tonne order but small against a sulfur step, so never trade a looser specification for longer terms.
How long should a GPC quotation be valid?
Insist on a stated validity, typically 7 to 14 days for spot. GPC has no exchange settlement, so a quote without a validity date can be withdrawn or repriced at will. A supplier who will not commit to a validity period is signalling that they expect the market to move against them.
Should I ask for a per-batch certificate of analysis?
Yes, and specify per batch rather than typical. Require fixed carbon, sulfur, ash, volatile matter, moisture and nitrogen, with the batch number matching the marks on the bags. A typical-analysis sheet describes what the grade usually is, not what is in your container.
What is a typical GPC minimum order quantity?
One container, which for 1,000 kg jumbo bags means roughly 25 to 28 tonnes depending on bulk density. Below that you are paying less-than-containerload rates and per-tonne freight rises steeply. Above about 100 tonnes you should be negotiating on a different basis entirely.
Why do GPC quotes for the same grade differ so much?
Usually because they are not the same grade. Published tables show bands hundreds of dollars wide for nominally similar material, and much of that width is real product difference a one-line specification does not capture. Ask for fixed carbon, sulfur and particle size distribution together; if two quotes still differ by more than 10 percent, one of the other levers is doing the work.
What Incoterm should I buy GPC on?
FOB if you control your freight and trust your forwarder; CIF if you want one number and one point of responsibility. On a USD 1,000 per tonne product the CIF–FOB difference is typically 8 to 15 percent, so never compare a CIF quote to an FOB quote without converting. Confirm which basis a published price carries before benchmarking.
How do I check whether a GPC quote is fair?
Convert it to the grade row you are buying, on the Incoterm you are buying, at your quantity - then compare. The most common error is benchmarking a 1–5 mm low-sulfur quote against a table whose top end includes needle-coke-based material at USD 1,400 to 1,900 per tonne. Build your own comparison from quotes you have actually received; after six months it beats any published index.
Is a lower GPC price worth a looser sulfur spec?
Sometimes - it is the highest-value trade on the sheet. Moving from 0.03 to 0.05 percent sulfur is worth roughly USD 100 to 120 per tonne. At a foundry addition of 27 kg per tonne, the extra sulfur contributes about 13 ppm to the iron. If your melt has that headroom, take the money; if it does not, the trade is a false economy.
What documents should come with a GPC shipment?
A per-batch certificate of analysis, a packing list with bag marks and weights, the bill of lading, a certificate of origin, and a commercial invoice stating the HS code used. Calcined petroleum coke sits under HS 2713.12 and graphitized material is frequently declared in the same heading depending on destination - confirm the code with your broker before shipment, not after.
Should I use a third-party inspection for GPC?
For a first shipment from a new supplier, yes. Budget roughly USD 300 to 600 per container, which is USD 12 to 24 per tonne on a 25-tonne container - cheap against specification drift you would otherwise detect only at the furnace. For repeat shipments from an established supplier, periodic sampling is usually enough.
How do I convert a GPC price from EXW to CIF?
Add inland haulage to port, export clearance, ocean freight, insurance and destination charges, then add your own working capital cost for the transit period. Better than any rule of thumb: ask the supplier to quote both bases on the same specification. The difference you get back is the real number for your route.
Can I get a fixed price for a year?
You can ask, but expect a premium or a volume commitment in return, because the producer is taking feedstock risk they cannot hedge - there is no GPC derivative. A more workable structure is a quarterly price review tied to an agreed formula referencing CPC, with a collar. If a supplier offers a twelve-month fixed price with no commitment from you, read the force majeure clause carefully.
Sources and known gaps
Grade price bands used to size the sulfur and particle-size levers (0–1 mm USD 700–780; 1–5 mm USD 680–820 across tables; 5–10 mm USD 680–760), technical caps including nitrogen ≤0.03% and bulk density 0.80–1.05 t/m³: ferrosilicon.co, 28 and 30 December 2025. Packaging formats (25 kg bags, 1,000 kg jumbo bags, waterproof kraft, fumigated pallets) from Chinese supplier listings sampled on Made-in-China, August 2026. HS 2713.12 per HS Code Atlas and TARIC 2713120000.
What is ours, not sourced: the RFQ template itself; the bag-cost arithmetic at USD 0.40–0.80 per 25 kg bag; the third-party inspection range of USD 300–600 per container; the payment-terms table at 6 percent cost of capital; and the ranking. The order-size lever carries no published figure and we have deliberately left it blank rather than invent one. No published source gives a clean fixed-carbon-only price differential, and we think that absence is itself informative.

