For the Quarter Ending March 2026
Graphite Price in North America
- In the USA, the Graphite Price Index fell by 1.863% quarter-over-quarter, reflecting import oversupply pressures.
- The average Graphite price for the quarter was approximately USD 702.33/MT among US anode manufacturers.
- Soft post-holiday import offers pushed the Graphite Spot Price lower despite steady contracted offtake volumes.
- Freight upticks and permit scrutiny influenced the Graphite Price Forecast, prompting cautious purchasing and hedging.
- Elevated petroleum needle-coke prices sustained the Graphite Production Cost Trend, keeping synthetics comparatively persistently uncompetitive.
- Upcoming gigafactory commissioning improved the Graphite Demand Outlook but did not lift immediate spot purchases.
- Stable warehouse inventories restrained upside, keeping the Graphite Price Index rangebound despite occasional freight surcharges.
- Export licence vetting and scheduled maintenance abroad tightened specific grades' availability, prompting forward purchases, hedging.
Why did the price of Graphite change in March 2026 in North America?
- Import offers widened post-Lunar-New-Year, creating incremental supply overhang that depressed spot price formation in March.
- Battery makers kept contract offtake while delaying discretionary purchases, reducing demand and weighing on quotes.
- Freight increases and export permit scrutiny raised landed costs, yet ample cargo prevented price spikes.
Graphite Price in APAC
- In China, the Graphite Price Index fell by 0.86% quarter-over-quarter, reflecting comfortable supply and weak procurement.
- The average Graphite price for the quarter was approximately USD 499.67/MT, driven by stable supply and restocking.
- Limited March availability supported the Graphite Spot Price as exporters prioritized cargoes for Asian buyers.
- Near term Graphite Price Forecast points to modest firmness from export licensing and industrial restart.
- Rising regional power tariffs influenced the Graphite Production Cost Trend, pressuring operators to defer sales.
- Early quarter restocking by battery anode producers improved the Graphite Demand Outlook but remained mixed.
- Rising inventories pushed softer Graphite Price Index, prompting sellers to lower offers to seaborne buyers.
- Operational continuity at Heilongjiang and Shandong mines limited supply shocks, keeping market volatility contained recently.
Why did the price of Graphite change in March 2026 in APAC?
- Sustained domestic production and ongoing imports lifted inventories, reducing upward price pressure in March 2026
- Muted export inquiries from Japan and Korea constrained offtake, contributing to subdued March price movement.
- Stable production costs and easing energy curbs prevented rapid increases, leaving market balance tilted upward.
Graphite Price in Europe
- In Germany, the Graphite Price Index fell by 2.04% quarter-over-quarter, reflecting weak industrial buying pressure.
- The average Graphite price this quarter was approximately USD 656.67/MT, reflecting subdued buying with inventories.
- Graphite Spot Price softened in March as abundant African arrivals pressured offers and reduced urgency.
- Graphite Price Forecast shows limited near-term upside as destocking and seasonal slowdowns temper buying further.
- Graphite Production Cost Trend remained muted as fixed electricity contracts insulated synthetic furnaces from volatility.
- Graphite Demand Outlook stays subdued with battery, refractory and steel segments delaying procurement amid uncertainty.
- Graphite Price Index movements mirrored lower synthetic-anode benchmarks and redirected Asian flows into European ports.
- Major German synthetic producers ran near nameplate, supporting supply while import diversity moderated price spikes.
- Port inventory accumulation and smooth Rhine logistics reduced seller leverage, pressuring spot and contract negotiations.
Why did the price of Graphite change in March 2026 in Europe?
- Ample import arrivals increased port inventories, reducing immediate purchasing urgency across domestic processors and distributors.
- Soft industrial demand from steel and battery sectors, with high power tariffs, suppressed spot procurement.
- Stable feedstock and freight costs prevented spikes, enabling sellers to concede discounts and clear stocks.
For the Quarter Ending December 2025
Graphite Prices in North America
- In USA, the Graphite Price Index fell by 10.13% quarter-over-quarter, due to ample global supply.
- The average Graphite price for the quarter was approximately USD 715.67/MT on CFR Houston basis.
- Export vetting tightened, briefly lifting the Graphite Spot Price and tightening short-term availability for importers.
- Analysts adjusted the Graphite Price Forecast, noting modest recovery potential from anticipated battery procurement activity.
- High petroleum needle-coke prices kept the Graphite Production Cost Trend elevated, limiting synthetic substitution economics.
- Positive gigafactory ramps improved the Graphite Demand Outlook, while steel refractory demand remained seasonally subdued.
- Gulf Coast inventories rose, pressuring the Graphite Price Index and compressing seller margins and liquidity.
- Freight rates nudged up late December, increasing landed-cost uncertainty while logistics remained functionally fluid overall.
Why did the price of Graphite change in December 2025 in North America?
- Large imports from China and Mozambique increased availability, driving downward price pressure in U.S. markets.
- Battery and steel demand softened, with gigafactory buffers and seasonal mill maintenance reducing procurement needs.
- Chinese export-license vetting tightened and freight rose, raising lead-time uncertainty and prompting forward buying activity.
Graphite Prices in APAC
- In China, the Graphite Price Index fell by 7.86% quarter-over-quarter, reflecting oversupply from expanded production.
- The average Graphite price for the quarter was approximately USD 504.00/MT, reflecting subdued demand, elevated inventories.
- Producers withheld spot offers, tightening Graphite Spot Price visibility and supporting near-term seller discipline conditions.
- Freight and rail disruptions influenced the Graphite Production Cost Trend, raising processing costs for processors.
- Chinese export licensing uncertainty tightened available volumes, shaping the Graphite Demand Outlook among international anode manufacturers.
- Inventory accumulation at ports pressured the Graphite Price Index, encouraging buyers to adopt conservative procurement strategies.
- Market commentary and modelling underpin the Graphite Price Forecast indicating seasonal volatility and policy drivers.
- Operational restarts, inspections and power curbs altered run-rates, moderating available export flows into Q1 period
Why did the price of Graphite change in December 2025 in APAC?
- Expanded domestic production and processing capacity increased exportable supply, pressuring prices amid weak industrial demand.
- Logistics constraints and seasonal electricity curbs raised processing costs and delayed shipments, tightening export availability.
- Battery-sector restocking and licensing uncertainty prompted selective buying, supporting higher bids for quality material urgently.
Graphite Prices in Europe
- In Germany, the Graphite Price Index fell by 8.38% quarter-over-quarter, reflecting oversupply and weak demand.
- The average Graphite price for the quarter was approximately USD 670.33/MT, based on reported transactions.
- Rising warehouse cover and steady imports pressured the Graphite Spot Price, limiting seller pricing power.
- The Graphite Price Forecast anticipates gradual recovery as European battery demand resumes early next year.
- Stable needle-coke and energy costs moderated the Graphite Production Cost Trend, preserving tight supplier margins.
- The Graphite Demand Outlook remains constructive for batteries and green-steel, despite short-term destocking across sectors.
- Monthly Graphite Price Index movement reflected German port inventories and reduced East Africa freight inflows.
- SGL Carbon availability and scheduled maintenances influenced spot availability and near-term seller dynamics and pricing.
Why did the price of Graphite change in December 2025 in Europe?
- High port inventories and steady Mozambican shipments increased availability, depressing German spot offers throughout December.
- Downstream destocking by automotive and refractories buyers limited orders, reducing upward pressure across spot prices.
- Export license constraints and Rhine logistics frictions tightened natural flake flow, supporting sellers during December.
For the Quarter Ending September 2025
Graphite Price in North America
- In the USA, the Graphite Price Index fell by 2.7% quarter-over-quarter, reflecting subdued demand pressures.
- The average Graphite price for the quarter was approximately USD 796.33/MT, based on blended settlements.
- Graphite Spot Price weakness persisted despite tariffs, keeping the Graphite Price Index under downward pressure.
- Graphite Price Forecast indicates modest recovery potential this year as supply diversifies and demand stabilizes.
- Graphite Production Cost Trend elevated from high energy and tariff impacts, pressuring margins for producers.
- Graphite Demand Outlook remains cautiously positive driven by EV battery build-outs and energy storage pipelines.
- Elevated inventories and mixed export demand moderated spot purchases, keeping the Graphite Price Index rangebound.
- Supply disruptions and shifts to alternative sources tightened availability, supporting the Graphite Spot Price levels.
Why did the price of Graphite change in September 2025 in North America?
- Tariff measures reduced Chinese supply flows, prompting buyers to reassess sourcing and creating near-term tightness.
- Higher energy and shipping costs elevated production and freight expenses, constraining competitive imports and margins.
- Robust EV and battery demand absorbed inventories, while cautious buyers delayed contracts amid policy uncertainty.
Graphite Price in APAC
- In China, the Graphite Price Index fell by 5.254% quarter-over-quarter, reflecting oversupply and weak demand.
- The average Graphite price for the quarter was approximately USD 547/MT, reflecting low market activity and high inventories.
- Spot volumes pressured the Graphite Spot Price as inventories remained elevated across major processing hubs.
- Disinflation in feedstock moved the Graphite Production Cost Trend lower, compressing producer margins and offers.
- Demand softness and delayed orders shaped the Graphite Demand Outlook, keeping offers subdued, activity muted.
- Export competition and tariff uncertainty influenced the Graphite Price Index and diverted some trade flows.
- Near-term expectations embedded in the Graphite Price Forecast assume cautious restocking and seasonal export disruptions.
- Operational restarts and capacity expansions sustained supply growth, limiting upside pressure on the Graphite Price Index.
Why did the price of Graphite change in September 2025 in APAC?
- Elevated inventories from surplus Chinese output reduced spot buying and significantly pressured regional price levels.
- Lower petroleum coke costs eased production expenses, contributing to narrower margins and restrained seller offers.
- Trade policy uncertainty and seasonal logistics disruptions delayed shipments, weakening near-term export demand and buyer caution.
Graphite Price in Europe
- In Germany, the Graphite Price Index rose by 0.688% quarter-over-quarter, reflecting supply tightness and demand recovery.
- The average Graphite price for the quarter was approximately USD 731.67/MT, from weighted spot contract transactions.
- Inventory accumulation from inexpensive Chinese material kept the Graphite Spot Price pressured despite domestic demand improvement.
- European buyers sought secure sources, supporting the Graphite Price Forecast for moderate strength into early autumn.
- Rising energy costs influenced the Graphite Production Cost Trend, compressing margins at local processors and tollers.
- Automotive electrification underpins the Graphite Demand Outlook, with battery anode requirements sustaining industrial procurement volumes.
- Export demand softness and logistics delays influenced the Graphite Price Index movement and regional arbitrage.
- Operational disruptions at domestic mines tightened availability, reinforcing spot market dynamics and supporting price resilience.
- Neutral investor sentiment limited speculative buying, keeping contract negotiations cautious and short term volatility contained.
Why did the price of Graphite change in September 2025 in Europe?
- Supply constraints from minor import disruptions and localized production inefficiencies tightened available volumes in September.
- Sustained demand recovery from automotive battery manufacturing increased purchasing, elevating spot market competition and order activity.
- Downstream cost pressures driven by higher energy expenses and logistics frictions raised operating costs, limiting producer discounts.
For the Quarter Ending June 2025
Graphite Price in North America
- The North America Graphite Price Index in Q2 2025 decreased by 16.26% quarter on quarter, reflecting continued oversupply as major producers in China, Mozambique and Brazil maintained high output, outpacing muted downstream consumption.
- Graphite Production Cost Trend: Raw material costs (notably coke for anode manufacturing) trended downward, while logistic expenses eased as freight rates on key routes fell, providing minor cost relief but doing little to stem the price decline.
- Graphite Demand Outlook: Demand remained subdued across key sectors—U.S. EV sales declined by around 5% and steel production dipped by 0.4% with slow infrastructure and charging station rollouts further limiting draw on graphite inventories.
- Graphite Price Forecast: While short term oversupply is expected to persist, a medium to long term structural deficit driven by rising EV and energy storage demand could trigger a moderate price recovery later in 2025.
- By the end of the quarter, inventories in warehouses remained elevated with no significant logistical disruptions, keeping downward pressure on the Graphite Prices.
Why did the Graphite price change in July 2025 in North America?
- The Graphite Price Index registered a sharp increase after the U.S. Commerce Department announced preliminary anti dumping duties of 93.5% on Chinese graphite imports, prompting buyers to accelerate purchases ahead of enforcement and tightening import supply.
Graphite Price in APAC
- The APAC Graphite Price Index registered a 10.35% quarter on quarter decline, weighed down by abundant inventories in China and steady production from major regional suppliers, which outpaced muted consumption in key end use sectors.
- Graphite Production Cost Trend: Production costs trended lower at the start of the quarter as electricity tariffs and petroleum coke feedstock prices declined, narrowing margins for tolling operators; these cost savings plateaued mid quarter, stabilizing overall cost structures.
- Graphite Demand Outlook remained subdued across APAC markets, with the automotive and energy storage sectors exercising caution on procurement amid broader economic uncertainties and trade policy headwinds.
- Graphite Price Forecast: a gradual price recovery in H2 2025, driven by planned capacity rationalizations, logistical normalizations, and resurgent battery grade demand as downstream projects resume contracting.
- Inventories across major APAC ports stayed elevated by the end of the quarter, exerting continued downward pressure on spot prices and reinforcing a buyer’s market.
Why did the Graphite price change in July 2025?
- The Graphite Price Index in APAC edged higher in July after Chinese ultra high power graphite electrode prices stabilized in June and were forecast to nudge up due to tightening supply and rising raw material costs
Graphite Price in Europe
- The Graphite Price Index in Europe declined by 8.21% in quarter-over quarter in Q2 2025, reflecting persistent oversupply across major markets and muted consumption in key downstream sectors.
- Elevated inventory levels particularly of flake and spherical graphite continued to outpace demand, sustaining bearish pricing throughout the quarter.
- While raw material and energy inputs saw modest upward pressure, a significant drop in freight costs—mirroring a 5.3% fall in global container rates—helped lower landed import costs.
- The net effect was a mixed production cost trend: overall unit costs edged up, but logistics savings partially offset margin squeezes for European processors.
- Weakness in the automotive sector (both ICE and EV) and subdued steelmaking activity kept short term demand subdued, even as longer term drivers—like grid scale battery storage—remain intact.
- Demand from data centers and electronics held steady, but not enough to absorb the existing oversupply; end users adopted a “just in time” procurement approach, delaying large restocking.
- Given high inventories and limited order flows, the Graphite Price Forecast points to continued downward pressure into Q3 2025, with only a modest rebound expected if supply from dominant Chinese exporters eases.
Why did the Graphite price change in July 2025 in Europe?
- The Graphite Price Index in Europe actually increased in July 2025, as the European Commission’s extension of anti dumping measures on Chinese artificial graphite imports tightened available supply and supported prices.
