【Anode Materials】U.S. Department of Commerce Announces "Double Anti" Duties on Chinese ...

 The rapid growth of the EV and energy storage industries is boosting demand for high-performance lithium batteries, driving the market for quality petroleum coke and synthetic graphite. The quality and particle size of calcined petroleum coke directly affect synthetic graphite performance, especially in anode production.

【Anode Materials】U.S. Department of Commerce Announces "Double Anti" Duties on Chinese Anode Materials — What Is the Impact on the Anode Material Market?

I. Policy Background

On February 11, 2026, the U.S. Department of Commerce issued an official announcement, rendering its final determinations in the anti-dumping and countervailing duty investigations concerning lithium-ion battery anode materials originating from China (including active anode materials made from natural graphite and artificial graphite). The ruling determined that the relevant products were sold in the United States at prices lower than fair value and that the Chinese government provided countervailable subsidies to the industry.

The announcement specifies the following duty rates:

For certain Chinese exporters listed in the announcement, a 93.5% anti-dumping duty will be imposed;
For other Chinese exporters, a uniform anti-dumping duty rate of 102.72% will apply;
For all Chinese producers involved, countervailing duties ranging from 66.82% to 66.86% will be imposed.

On a combined basis, importers are required to pay cash deposits ranging from 160.32% to 169.58%.

II. Stable Artificial Graphite Export Volume, Limited Share to the U.S.

Table 1: China's Artificial Graphite Export Volume from 2023–2025 (Unit: 10,000 tons)

The U.S. market was once an important export destination for China's graphite anode materials. Under the impact of tariffs exceeding 160%, Chinese products will lose price competitiveness in the U.S. market, and export volumes are expected to shrink significantly.

III. In the Long Term, China's Dominant Position in Anode Materials Is Unlikely to Be Shaken

Figure 1: Share of Major Export Destinations of Artificial Graphite in 2025 (10,000 tons) 

Data source: Oilchem

From January to December 2025, the major export destinations of artificial graphite were India, Japan, the United States, the Netherlands, and South Korea, among which exports to the United States accounted for only 10.41%.

However, approximately 59% of natural graphite and 68% of artificial graphite in the U.S. market originate from China. This is because domestic production capacity of graphite anode materials in the United States is insufficient and manufacturing technology remains underdeveloped, resulting in a high dependence on Chinese graphite anode materials.

Although the U.S. government intends to protect domestic enterprises through tariffs, the actual effect may be counterproductive. Companies such as Tesla and Panasonic have repeatedly stated publicly that they are unable to find substitutes matching China's quality and scale in the short term.

Battery costs are expected to surge. Graphite anode material accounts for approximately 10%–15% of the total cost of power batteries. A 160% tariff would increase battery cell costs by approximately USD 7 per kWh, and vehicle prices may rise by USD 1,000–1,500, significantly weakening the competitiveness of U.S. electric vehicles in the market.

In summary, the U.S. imposition of anti-dumping and countervailing duties will, in the short term, impact China's exports of graphite anode materials to the United States; however, the overall effect on Chinese enterprises' production is minimal. Moreover, this policy does not fundamentally resolve the issue of U.S. supply chain dependence. On the contrary, it accelerates the global expansion and technological upgrading of Chinese enterprises, while imposing significant cost pressures and supply chain risks on the U.S. domestic new energy vehicle industry. In the long term, the difficulty of "de-Sinicizing" the global graphite industry chain is extremely high, and China's dominant position in this field is unlikely to be shaken in the short term.

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