【Graphite Electrode】Market Prices Remain Steady but Weak; Overall Demand Still Needs Improvement

During the week of June 1–6, graphite electrode prices in China remained stable. Prices for regular power electrodes stood at RMB 12,500–13,300/ton, and high-power electrodes at RMB 13,500–14,000/ton. Prices for ultra-high-power graphite electrodes entered a downward adjustment phase. Mainstream specifications (diameter 450mm, length 1800–2100mm) were quoted at RMB 13,950–14,100/ton (ex-factory, including tax).

Research shows that the raw material supply side is loose: in June 2025, petroleum coke prices have shown a steady-to-weak trend. The previous price rise has ended, and prices have started to fall. Some refineries have cut prices by RMB 100–300/ton to boost sales. The improved supply-demand relationship has significantly eased cost pressure on electrode manufacturers, providing room for price reductions.

Electric arc furnace steelmakers are seeing low profit margins, resulting in weak production enthusiasm and sluggish demand for graphite electrodes. Combined with insufficient cost-side support, graphite electrode prices still face downside risk. Raw material procurement remains cautious and demand-driven.

On the demand side, the market shows a pattern of "active inquiries, stable transactions." A bearish outlook has led most steel mills to adopt conservative procurement strategies focused on rigid demand, with low willingness for proactive stockpiling. However, stable fundamental demand continues to support the market.

In the domestic market, prices are still primarily set by large enterprises, while smaller producers base their prices on the quotes from industry leaders and their own cost assessments. Under the dual influence of falling raw material costs and cautious steel mill purchasing, graphite electrode prices are expected to remain weak in the short term.

It is recommended that companies closely monitor changes in prices of key raw materials such as petroleum coke, as well as procurement trends among downstream steelmakers.

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