Demand from Downstream Industries May Surge the Global Graphite Market Value
- 21-Jun-2022 8:23 AM
- Journalist: Patrick Knight
As per the ChemAnalyst report, the global Graphite prices continue to encounter a marginal increase. The increase in the price is due to the demand from the end-use industries like construction sectors and expanding smart technologies. As Graphite is a carbon material, it has significant use in manufacturing lithium-ion battery anodes. It has an important use in the electric vehicle industry, which is significantly increasing the market value of Graphite.
In Germany, the price of Graphite has increased by 0.7% during the first week of June, owing to the increase in demand from the European EV industries. Germany is dependent on China for its maximum import. The price increase is due to the high freight charges and delayed freight transit times which is disrupting the supply in the domestic market, thus leading to the increase in the price of the Graphite.
As per the ChemAnalyst database, it is observed that the price of Graphite increased by 0.4 during the first week of June in China. It is the leading production and consumption market for Graphite globally. Prices have been increased due to the increasing demand from the EAF (Electric Arc Furnace) industries, where Graphite Electrodes are used to melt the steel scrap. The rising demand from the industries which is manufacturing electrodes in lithium batteries has contributed to the rise in the market value of Graphite. As per analysis, many Graphite industries in Beijing were suffering from the recent rising cases of COVID-19 though it has not suffered from long-lasting effects as everything is going in a controlled manner. As per the ChemAnalyst report, it is anticipated that the domestic demand for Graphite is likely to be propelled in China in the upcoming time due to rising residential activity and increasing automobile production in the country.
As per the ChemAnalyst survey, it is expected that prices may get stable, or there will be a marginal increase as the current global market of Graphite is increasing with the upcoming technologies.