Artificial Graphite Center Moves Up, Natural Graphite Lingers at Low Levels [SMM Lithium Battery Anode Raw Material Market Weekly Review]

Published: Sep 30, 2026 14:42 (GMT+8)

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[SMM Lithium Battery Anode Raw Material Market Weekly Review: Artificial Graphite Price Center Moves Up, Natural Graphite Lingers at Low Levels] September 30 news, this week, the price center of artificial graphite anode shifted slightly upward, with cost support remaining firm.

SMM, September 30:

This week, the price center for artificial graphite anode materials edged up slightly, with cost-side support remaining firm. Petroleum coke and needle coke prices stabilized at highs, and graphitisation tolling fees also showed a steady-to-rising trend. The supply-demand balance remained tight, with anode material orders steadily increasing during the peak season. Enterprises continued to advance destocking, and overall anode material processing trended upward. However, constrained by continuous pressure from battery cell manufacturers to lower prices, the actual increase in artificial graphite prices was limited. For natural graphite, the market remained in the doldrums, with no significant improvement in end-use demand. Prices lingered at lows near the cost line for an extended period, leaving buyers and sellers in a stalemate.

Looking ahead, cost support for artificial graphite is expected to remain solid, with end-use demand continuing to be released and the pace of destocking unchanged, so prices still have upward momentum. 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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