Anode Graphitisation Prices in Stalemate with Stable Trend, Rigid Cost Support Remains Significant [SMM Lithium Battery Anode Raw Material Market Weekly Review]

Published: May 14, 2026 08:09

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[SMM Lithium Battery Anode Raw Material Market Weekly Review: Graphitisation Prices Remained Stagnant, Rigid Cost Support Was Significant] May 14: This week, China's graphitisation tolling services prices maintained a stalemate. Cost side, graphitisation toll processing costs continued to fluctuate at highs.

SMM May 14:

This week, graphitisation tolling services prices in China maintained a stagnant pattern. Cost side, graphitisation tolling costs consistently fluctuated at highs, providing significant rigid support that effectively constrained the downside room for processing prices and offered strong underpinning for quotations. Supply-demand side, against the industry backdrop of widespread cost increases across the entire industry chain, downstream enterprises became more cautious in procurement, the game between sellers and buyers continued to escalate, and it was difficult to break the existing price equilibrium in the short term. Outlook, under the disturbance of geopolitical tensions, the short-term downside room for upstream raw material prices of graphitisation remained limited, and the cost-support logic was expected to persist. Overall, graphitisation tolling services prices were expected to maintain relatively strong rigid support going forward.

SMM New Energy Research Team

Wang Cong 021-51666838

Ma Rui 021-51595780

Feng Disheng 021-51666714

Lv Yanlin 021-20707875

Zhou Zhicheng 021-51666711

Zhang Haohan 021-51666752

Wang Zihan 021-51666914

Wang Jie 021-51595902

Xu Yang 021-51666760

Xu Mengqi 021-20707868

Hu Xuejie 021-20707858

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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