Artificial Graphite Stable Awaiting Price Rise, Natural Graphite Remains Sluggish [SMM Lithium Battery Anode Raw Material Market Weekly Review]

Published: Sep 3, 2026 15:29

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[SMM Lithium Battery Anode Raw Material Market Weekly Review: Artificial Graphite Stable for Now Awaiting Price Hikes, Natural Graphite Remains Sluggish] September 3 news, this week, artificial graphite anode prices remained stable.

SMM, September 3:

This week, artificial graphite anode prices remained stable. On the supply-demand side, supply stayed tight while destocking continued to advance, and anode production schedules rose alongside stockpiling for the September peak season. On the cost side, upstream coke prices and graphitisation tolling service fees both saw notable increases, providing strong cost support. However, after a slight price hike in early August, the market is still in a digestion and transition period, with battery makers adopting a “volume-for-price” strategy to cap the upside in artificial graphite prices. Natural graphite, meanwhile, extended its weakness: end-use demand showed no improvement, flake graphite and spherical graphite raw material prices were flat and lacked upward momentum, and prices lingered near the cost line at low levels for an extended period, leaving buyers and sellers in a stalemate. Looking ahead, artificial graphite is supported by rising production schedules during the end-use peak season, tightening supply, and the upward shift in coke and graphitisation costs, so prices still have upside room, though the extent of gains will be constrained by how well they are passed through to battery makers. Natural graphite is unlikely to see a reversal in the short term and is expected to consolidate at lows.

SMM New Energy Research Team

Wang Cong 021-51666838

Ma Rui 021-51595780

Feng Disheng 021-51666714

Lyu 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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