Artificial Graphite Steady with Upside Potential; Natural Graphite Sideways Consolidating at Lows [SMM Lithium Battery Anode Raw Material Market Weekly Review]

Published: Jul 30, 2026 15:30

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[SMM Lithium Battery Anode Raw Material Market Weekly Review: Artificial Graphite Stable with Expectations of Price Increase, Natural Graphite Consolidating at Lows] July 30 News: This week, China's artificial graphite market remained stable overall.

SMM July 30 Report:

This week, China's artificial graphite market ran stable overall. The supply-demand relationship maintained the previous tight pattern of effective spot supply. Cost side, raw material prices climbed continuously, combined with the backlog of unabsorbed costs from the previous period, the current cost support remains strong, and anode enterprises have strong expectations for price hikes, but due to the lag effect of the production cycle, the cost pressure from the rise in raw materials this period has not yet been fully reflected in spot prices. For natural graphite, end-use demand was weak, downstream buyers widely pushed for lower prices, and the market transaction atmosphere was lackluster. However, as prices have been hovering near the cost line for a long time, the tug-of-war between sellers and buyers entered a stalemate, and further downside room is also limited.

Looking forward, artificial graphite, benefiting from stronger demand, tight supply, and the gradual realization of cost pass-through, may see its price center steadily rise; natural graphite, due to insufficient demand-side drivers, will likely consolidate on a weak note in the short term, with a breakout in market conditions awaiting new catalysts.

SMM New Energy Research Team

Wang Cong 021-51666838

Ma Rui 021-51595780

Feng Disheng 021-51666714

Lv Yanlin 021-20707875

Zhang Haohan 021-51666752

Wang Zihan 021-51666914

Wang Jie 021-51595902

Chen Bolin 021-51666836

Xu Yang 021-51666760

Xu Mengqi 021-20707868

Hu Xuejie 021-20707858

Yang Le 021-51595898

Wang Zhaoyu 021-51666827

Li Yisha 021-51666730

Huang Chencong 021-51595860

Lin Ziya 021-5166-6902

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

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