【Graphite Electrodes】 Is Export the New Breakthrough 

as Overseas Demand Continues to Grow?

According to customs data, in January 2024, China's graphite electrode exports reached 32,000 tons, up 16.7% month-on-month and 19.76% year-on-year. In February 2024, the export volume was 25,000 tons, down 21.78% month-on-month but up 15.29% year-on-year. The total exports for January and February 2024 amounted to 57,000 tons, a year-on-year increase of 17.76%. The top three export destinations were Russia (5,070 tons), Turkey (2,210 tons), and South Korea (1,750 tons). 

Despite a decrease in February due to the Lunar New Year, exports to Russia, the UAE, and the USA were highest, indicating a steady rise in demand particularly from Russia, which remained the top export destination for two consecutive months.

From January to February 2024, total graphite electrode exports were 57,000 tons, a 17.76% increase from the same period in 2023.

（Data Source: BAIINFO）

Additionally, Russia has consistently been the largest buyer of Chinese graphite electrodes,confirming the steady increase in demand.

Feedback from a leading graphite electrode manufacturer indicates that since the beginning of 2024, exports have been more stable than domestic sales, accounting for at least half of total sales. In contrast, domestic demand has been more volatile, mainly due to instability in production at domestic steel plants, leading to fluctuating demands for graphite electrodes.

This situation highlights a couple of critical points: on one hand, the overseas market for graphite electrodes remains relatively stable; on the other, China's surplus graphite electrodes are entering the international market at competitive prices, a trend that cannot be overlooked.

From a production standpoint, companies with export capabilities are maintaining stability in output. However, those relying on domestic sales face significant challenges.

(Data Source: ICC)

In conclusion, in the current market environment, companies capable of exporting should continue to deepen their international market expansion and stabilize their export business to mitigate domestic market pressures. Meanwhile, companies focused on domestic sales need to proactively explore new market demands and adjust their production strategies to maintain operational flexibility. Contact us for more information on the graphite electrode market.