SMM, May 22:
This week, graphitisation prices have seen a slight decline. From the perspective of supply and demand, the operating rate of anode enterprises has increased, driving up the orders for graphitisation tolling services. However, the scale of new demand is limited, making it difficult to effectively alleviate the imbalance of overcapacity in the industry. Meanwhile, the production costs of graphitisation tolling services have decreased due to lower electricity tariffs. Against the backdrop of falling costs, anode enterprises have developed a sentiment to drive down prices. Under the combined influence of multiple factors, graphitisation tolling prices have seen a slight decline this week. It is worth noting that as graphitisation tolling prices are close to the cost line, even if there is downward pressure on prices in the market, the decline in graphitisation tolling prices will be relatively limited.
Looking ahead, during the 90-day waiting period for tariff policies, overseas terminal and battery cell enterprises may engage in an installation rush, thereby prompting domestic anode material enterprises to increase their production schedules. On the supply side, the situation of overcapacity is difficult to reverse. On the cost side, costs may be further controlled due to economies of scale and lower electricity tariffs. Therefore, it is expected that graphitisation tolling prices may continue to be under pressure and decline in the future.
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
