[SMM Analysis] Anode Production in July Steadily Climbed, Driven by Dual Drivers of EV and ESS Demand

Published: Aug 11, 2026 18:26

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According to SMM data, artificial graphite anode material production in July maintained steady growth, up 6% MoM and a significant 70% YoY.

According to SMM data, artificial graphite anode material production in July maintained steady growth, up 6% MoM and a significant 70% YoY.
From the supply side, downstream demand in the power battery and ESS sectors continued to heat up, battery cell enterprises’ purchase willingness warmed, and anode material companies had full order books, driving production scheduling enthusiasm upward among major producers. However, affected by tight production scheduling capacity in the graphitisation tolling services segment, finished product output at some anode enterprises was constrained, and actual spot supply still could not fully cover downstream order growth. The overall market continued to present a "strong demand, weak supply" pattern. The industry as a whole remained in a destocking phase, with finished product inventories continuing to decline, and inventories at some top-tier players had pulled back to reasonably low levels.
Looking ahead to August, as the traditional peak consumption season approaches, battery cell manufacturers are expected to further ramp up purchasing, and anode production schedules are expected to maintain their upward momentum.

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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