Graphitisation tolling service prices consolidate on a strong note amid a tight supply-demand balance [SMM Lithium Battery Anode Raw Material Market Weekly Review]

Published: Oct 15, 2026 09:11 (GMT+8)

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[SMM Lithium Battery Anode Raw Material Market Weekly Review: Graphitisation Tolling Prices Consolidate on a Strong Note amid Tight Supply-Demand Balance] October 15: The graphitisation tolling market maintained a stable trend this week, with quotes across all furnace types showing no significant adjustments overall.

SMM, October 15:

This week, the graphitisation tolling market continued its stable trend, with quotes across furnace types largely unchanged. The average prices for Acheson furnace, high-density raw material and light raw material held at 9,500 yuan/mt and 10,250 yuan/mt, respectively; box furnace high-density and light raw material averaged 8,600 yuan/mt and 9,200 yuan/mt, respectively. Demand was relatively active, driven by the September peak season, with end-user orders remaining high. Anode material enterprises showed increased willingness to schedule production, integrated graphitisation capacity tightened, and demand for outsourced tolling services strengthened accordingly. Supply remained somewhat constrained, as independent graphitisation enterprises faced significant profit pressure earlier, and the pace of production resumptions was slow. Structural shortages kept the industry locked in a tug-of-war between profit pressure on graphitisation enterprises and anode delivery periods, leaving the price stalemate unbroken. Looking ahead, with anode production schedules fluctuating at highs during the October peak season, the room for tolling adjustments is expected to narrow further, and graphitisation prices are likely to consolidate on a strong note.

SMM New Energy Research Team

Wang Cong 021-51666838

Ma Rui 021-51595780

Feng Disheng 021-51666714

Lyu Yanlin 021-20707875

Zhang Haohan 021-51666752

Wang Zihan 021-51666914

Wang Jie 021-51595902

Chen Bolin 021-51666836

Xu Yang 021-51666760

Xu Mengqi 021-20707868

Hu Xuejie 021-20707858

Yang Le 021-51595898

Wang Zhaoyu 021-51666827

Li Yisha 021-51666730

Huang Chencong 021-51595860

Lin Ziya 021-5166-6902

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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