The global graphite electrode market Overview

2025-11-07 15:59:55

The global Graphite electrode market has demonstrated **resilient performance** in 2025 despite facing **significant headwinds** from uneven demand recovery and evolving trade policies. The current market structure remains **highly concentrated**, with major producers continuing to exert considerable influence on pricing strategies and supply dynamics.

The **supply side** of the market is characterized by **stable production output** from major manufacturers, with most large-scale operations maintaining consistent operational rates. However, many **small and medium-sized producers** have adopted more flexible production strategies, including **intermittent operation patterns** designed to minimize inventory buildup and manage cash flow pressures. This approach reflects the ongoing challenges faced by smaller players in navigating cost pressures and competitive market conditions.

On the **demand side**, the market continues to experience **uneven recovery patterns**, with steel producers maintaining cautious procurement strategies. Downstream users are predominantly employing **"hand-to-mouth" purchasing approaches**, placing orders based on immediate production needs rather than building inventory buffers. This conservative stance reflects lingering uncertainties about the sustainability of demand recovery and ongoing margin pressures across the steel value chain.

The global graphite electrode market has demonstrated **resilient performance** in 2025 despite facing **significant headwinds** from uneven demand recovery and evolving trade policies. The current market structure remains highly concentrated, with major producers continuing to exert considerable influence on pricing strategies and supply dynamics.

The supply side of the market is characterized by stable production output** from major manufacturers, with most large-scale operations maintaining consistent operational rates. However, many small and medium-sized producers have adopted more flexible production strategies, including intermittent operation patterns designed to minimize inventory buildup and manage cash flow pressures. This approach reflects the ongoing challenges faced by smaller players in navigating cost pressures and competitive market conditions.

On the demand side, the market continues to experience uneven recovery patterns, with steel producers maintaining cautious procurement strategies. Downstream users are predominantly employing "hand-to-mouth" purchasing approaches, placing orders based on immediate production needs rather than building inventory buffers. This conservative stance reflects lingering uncertainties about the sustainability of demand recovery and ongoing margin pressures across the steel value chain.

 **Specification** | **Price Range (CNY/ton)** | **Key Characteristics** |
|-------------------|---------------------------|-------------------------|
| **UHP400mm**      | 15,500 - 16,000          | Standard ultra-high power grade |
| **UHP450mm**      | 15,000 - 15,500          | With 30% needle coke content |
| **UHP600mm**      | 17,000 - 17,500          | Large diameter for intensive applications |
| **UHP700mm**      | 20,000 - 21,000          | Premium specification with significant price premium |

The cost of raw materials*constitutes the most significant factor influencing graphite electrode pricing in 2025. Low-sulfur petroleum cokeprices have undergone multiple upward adjustments throughout the year, creating substantial cost-push pressure on electrode manufacturers. The relationship between raw material costs and electrode pricing has become increasingly pronounced, with **cost volatility** directly transmitted through the production chain.

The needle coke market deserves particular attention, as this specialized material represents a critical input for high-quality electrode production. Prices for needle coke have shown considerable fluctuation in 2025, reflecting changing supply-demand dynamics and trade patterns. The cost structure of electrode manufacturers has been further complicated by China's retaliatory tariff of 84% on imported petroleum coke and needle coke from the United States, which has disrupted traditional sourcing patterns and increased costs for Chinese producers.