SMM, May 8:
This week, prices of some artificial graphite have slightly declined. Cost side, the price of graphitisation tolling services has remained relatively stable under the combined influence of supply and demand dynamics and cost factors. However, the price of raw coke has declined due to the persistent weakness in downstream demand. On the supply and demand front, the overall market performance has been relatively stable. Demand growth has been sluggish due to tariff impacts, while the production of anode enterprises has increased slightly as the price of raw coke has declined. However, the decline in coke prices has not fully offset the previous increases, resulting in limited growth in anode production. Looking ahead, cost side, the price of raw coke is expected to continue its downward trend. Coupled with the reduction in electricity tariffs after the holiday, production costs are expected to decrease. On the demand side, influenced by uncertainties in international trade, procurement decisions of enterprises across the industry chain have become more conservative. On the supply side, overcapacity in anode production remains severe. Therefore, it is anticipated that the price of artificial graphite will continue to decline under the combined pressures of falling costs and supply-demand imbalance in the market.
This week, the price of natural graphite has remained stable. Cost side, the prices of core raw materials and processing costs have remained stable without significant fluctuations. The overall operation of supply and demand has been smooth. With no significant changes in supply, demand, or costs, the market activity for natural graphite has remained at a normal level, lacking driving factors for price changes. Looking ahead, the supply side is expected to remain abundant. On the demand side, influenced by external uncertainties such as tariff policies, downstream enterprises are showing a strong wait-and-see sentiment. Given the market dynamics of sufficient supply and weakening demand expectations, the price of natural graphite anode material may face some downward pressure.
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
