Artificial graphite remains stable, natural graphite continues at low levels; anode market stalemate pattern persists [SMM Lithium Battery Anode Raw Material Market Weekly Review]

SMM, September 17:

This week, artificial graphite anode prices remained stable. Cost support stayed firm, with raw material petroleum coke and needle coke prices edging up slightly, while graphitisation tolling fees stabilized at highs after several earlier rounds of increases. The supply-demand balance remained tight, and with the "September peak season" arriving, anode production schedules rose steadily, though the destocking process continued to advance. However, battery makers still pushed for lower prices through a "volume-for-price" strategy, which to some extent capped the upside room for artificial graphite prices. Natural graphite remained in the doldrums, with end-use demand still showing no notable growth, while prices lingered near cost levels for an extended period, leaving buyers and sellers in a stalemate. Looking ahead, for artificial graphite, cost support is expected to remain relatively solid, and end-use demand will continue to be released, so artificial graphite prices are expected to retain upward momentum. However, under the impact of consumption tax policies, some end-use demand has already been released ahead of schedule, so the upside room for prices is expected to be limited. Natural graphite is unlikely to see a turnaround 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