According to Platts, prices have taken off on limited supplies of needle coke and Chinese demand for the finished product. One executive with an electric arc furnace mill told Platts that electrode price increases are adding US$15 per metric ton -- or even more -- to steel costs at some mills. 

The situation is leading some to consider running on nights and weekends, when electricity is cheaper, to offset the costs. Others have halted production altogether because of the shortage. 

Platts has more on the story here and here.