China Graphite Electrode Market Finds Stability After June Decline

Chinese graphite electrode markets stabilized through July **** after June&#**;s downward trajectory, though underlying weakness persisted. Early July saw graphite electrode prices enter a wait-and-see phase as the market transitioned from off-season to traditional peak season, with mainstream UHP ***, ***, and *** specifications holding steady. However, cost-side support continued eroding as needle coke and petroleum coke prices showed mixed movements, while domestic EAF steelmakers reduced furnace loadings amid compressed rebar margins—independent EAF operating rates fell *.*** week-on-week, directly curbing graphite electrode demand.

Globally, a significant upside shock emerged on ** July, when Japan&#**;s Tokai Carbon announced a substantial graphite electrode price increase of JPY ***,***/t ($***) for deliveries from October onward, driven by a **-*** surge in needle coke costs following escalating Middle East tensions. Major US and European manufacturers signaled similar hikes, with GrafTech confirming price increases of $***-*,***/MT on uncommitted graphite electrode volumes.

Contrasting this, Chinese graphite electrode markets remained subdued. The...