Decline in artificial graphite anode slows down, while natural graphite anode remains stable [SMM Weekly Review of Lithium Battery Anode Market]

Published: Jun 19, 2025 17:08

Save

[SMM Weekly Review of Lithium Battery Anode Market: Decline in Artificial Graphite Anode Slows Down, Natural Graphite Anode Remains Stable] SMM News on June 19: Driven by the dual effects of weakening cost support and supply-demand imbalance, prices of some artificial graphite anode materials declined this week.

SMM June 19 News:

Driven by the combined effects of weakening cost support and supply-demand imbalance, prices of some artificial graphite anode materials declined this week. Cost side, the prices of upstream raw materials have been on a downward trend for two consecutive months, providing a cost basis for the decline in product prices. Demand side, affected by the high inventory of finished vehicles, the production pace of NEVs has slowed down, putting downward pressure on the demand for power battery cells. However, the demand in the small-scale ESS market has recovered, which has, to some extent, offset the decline in end-user demand for battery cells. This change in demand structure has been transmitted upstream, maintaining stable demand for anode materials from the battery cell side. Meanwhile, the supply side remains abundant. Therefore, the prices of artificial graphite anode materials continued to decline this week. Looking ahead, although overcapacity is unlikely to improve in the short term, supported by the potential rebound in cost side due to geopolitical issues, anode material prices are expected to remain stable.

This week, amidst no significant fluctuations in the cost and supply sides of natural graphite, the price of natural graphite anode materials remained stable. Looking ahead, with the continuous technological updates and iterations of artificial graphite anode materials, the gap in core performance indicators with natural graphite anode materials is gradually narrowing. Leveraging the cost-effectiveness advantage brought about by technological breakthroughs, artificial graphite anode materials have begun to seize market share, with some downstream customers showing a clear shift in demand, placing natural graphite anode materials under significant competitive pressure. It is expected that in the future, the prices of natural graphite anode materials will face long-term 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

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.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

11 hours ago

Beijing Launches 500-kV Power Project in Fengtai, Boosting Grid Resilience and Industrial Growth

On January 28th, the construction of the 500-kilovolt power transmission and transformation project in Fengtai, Beijing officially started. This project is the first newly-built 500-kilovolt power grid project in Beijing during the 15th Five-Year Plan period. It will significantly enhance the resilience and power receiving capacity of the southern Beijing power grid and provide reliable power support for Beijing to continuously optimize the investment structure and vigorously develop high-end, precise, and cutting-edge industries. The 500-kilovolt power transmission and transformation project in Fengtai, Beijing is a key project of Beijing's power grid during the 15th Five-Year Plan period and one of the "3 100" key projects in Beijing this year. It is constructed and managed by the State

11 hours ago

Shaanxi-Anhui UHV DC Project's 500-kV AC System at Hezhou Station Begins Operation After Trial Run

On February 1st, the 500-kilovolt AC system of the Hezhou Converter Station, the receiving-end station of the ±800-kilovolt UHV DC power transmission project from northern Shaanxi to Anhui, was officially put into operation after a 24-hour trial run.

11 hours ago

750-kV Power Line Connecting Northern to Central Shaanxi Fully Operational

On February 2nd, the 750-kilovolt power transmission and transformation project of the third passageway from northern Shaanxi to central Shaanxi was fully connected. The project starts from the 750-kilovolt Shuofang Substation in Shenmu City in the north and ends at the 750-kilovolt Bailuyuan Substation in Lantian County in the south. It has newly built a 1,271-kilometer line, passing through 18 counties (districts) in 4 cities including Yulin, Yan'an, Weinan and Xi'an.

11 hours ago