Global graphite short-term outlook January 2024

The EV transition continued at pace throughout 2023, buoyed by cheaper battery raw materials. All regions set new sales and market penetration records, but accelerating demand for graphite is not currently reflected in its price. This, however, could be changing. As delays to the new Chinese graphite export licenses deplete stockpiles, the value of material delivered into Europe is rising. This should continue throughout the year as the market restocks and demand steadily improves. Although improving demand will incentivise more utilisation of existing capacity, we still anticipate higher prices.