【[Negative Electrode】Rising Demand as Downstream Battery Manufacturers Increase Production

1. Artificial Graphite Price Trends

Currently, the mainstream prices for artificial graphite are stable, with high-end power products priced between 33,000 and 50,000 CNY/ton, high-end digital products between 48,000 and 68,000 CNY/ton, medium-end products between 23,000 and 35,000 CNY/ton, and low-end products between 15,000 and 22,000 CNY/ton. Graphitized carburant is an essential raw material for manufacturing high-performance lithium-ion battery anode materials. In June, leading battery companies' new bidding prices for the second half of the year have increased. Despite some calls for price hikes in negative electrode materials, new production capacities are continuously coming online, increasing supply. The market remains in a state of supply and demand tug-of-war, with prices expected to remain stable in the short term.

2. Continuous Growth in Supply and High Production Enthusiasm

Data Source: Oilchem

In May 2024, China produced 165,700 tons of negative electrode materials, a 2.47% increase from April. Production of negative electrode materials saw a slight increase in May compared to April, with a high capacity utilization rate. Leading companies are operating at high levels, while small and medium-sized enterprises have slightly increased production, primarily manufacturing to order to reduce inventory buildup.

3. Increased Production Schedules and Rising Consumption

Data Source: Oilchem

In the first half of 2024, the apparent consumption of artificial graphite showed an upward trend. In April 2024, China's market for artificial graphite negative electrode materials had an apparent consumption of 92,400 tons, a 51.23% increase from the previous month. From January to April, the cumulative apparent consumption reached 249,300 tons. Battery manufacturers are increasing production schedules, and demand for new energy vehicles remains stable and positive. The consumer battery and energy storage markets are steadily increasing, driving up the consumption of negative electrode materials.

4. Conclusion

Although there are calls for price increases in negative electrode materials recently, the supply-demand tug-of-war continues, and battery manufacturers still have a mindset of price suppression. Therefore, it is expected that the prices of negative electrode materials will remain stable in the short term.

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