The present invention provides a method of making a carbon electrode, suitable for use as an anode in an aluminum reduction cell, which comprises mixing an aggregate, comprising a mixture of particulate shot coke, and a particulate carbonaceous material other than shot coke with coal tar pitch or petroleum pitch or a combination of these pitches at an elevated temperature to form a paste wherein said aggregate comprises a combination of coarse, medium, and fine particles and said particulate shot coke may comprise a majority of said fine particles, and said paste comprises from about 80 to about 90%, by weight, of said aggregate and from about 10 to about 20%, by weight, of said pitch; forming said paste into a solid body; and baking said solid body at an elevated temperature to form said carbon electrode.