Cost support remains solid, battery makers continue to push for lower prices, and artificial graphite prices hold steady awaiting increases [SMM Lithium Battery Anode Raw Material Market Weekly Review]

SMM, September 24:

This week, artificial graphite anode prices held steady with upward potential. Cost support remained firm, with raw material prices for petroleum coke and needle coke stabilizing at highs, while graphitisation tolling fees were stable with expectations of increases. The supply-demand balance remained tight, and anode material orders rose steadily during the peak season, with anode enterprises continuing to advance their destocking process. However, battery makers still used a "volume-for-price" strategy, which to some extent capped the upside for artificial graphite prices. Natural graphite remained in the doldrums, with no significant growth in end-use demand, while prices lingered near the cost line for an extended period, leaving buyers and sellers in a stalemate.

Looking ahead, for artificial graphite, cost support is expected to remain solid, end-use demand will continue to be released, and the destocking pace is unlikely to change. Artificial graphite prices are expected to retain upward momentum, but with some end-use demand already pulled forward due to consumption tax policies, the upside is expected to be limited. 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