[SMM Analysis] Disrupted Logistics Led to a Decline in Artificial Graphite Exports in January

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SMM March 24 News:

In January 2025, China's artificial graphite imports were 853 mt, up 2% MoM and down 37% YoY. In terms of average import prices, in December 2024, the average price of artificial graphite imports in China was 69,510 yuan/mt, up 469% MoM and up 2% YoY.

Data Source: SMM, China Customs

In December 2024, China's artificial graphite exports were 49,701 mt, down 14.6% MoM and down 8% YoY. In terms of average export prices, in December 2024, the average price of artificial graphite exports in China was 8,462 yuan/mt, down 4% MoM and up 12% YoY.

Source: SMM, China Customs

In January 2025, on the import side, due to stockpiling by battery cell manufacturers before the year, artificial graphite imports increased by 2% MoM. Meanwhile, domestic artificial graphite had a competitive edge in terms of price and specifications, and with sufficient domestic capacity, battery cell manufacturers mainly used domestically produced artificial graphite, leading to a 37% YoY decline in imports. On the export side, in January, considering the approaching Chinese New Year holiday, domestic artificial graphite production decreased, coupled with logistical disruptions, resulting in a 14.6% MoM drop in export volume.

SMM New Energy Research Team

Cong Wang 021-51666838

Rui Ma 021-51595780

Disheng Feng 021-51666714

Yanlin Lü 021-20707875

Zhizheng Zhou 021-51666711

Haohan Zhang 021-51666752

Zihan Wang 021-51666914

Xiaoxuan Ren 021-20707866

Jie Wang 021-51595902

Yang Xu 021-51666760

Mengqi Xu 021-20707868