UHP Graphite Electrode (600MM) Price Trend and Forecast

UHP Graphite Electrode (600MM) Regional Price Overview

Get the latest insights on price movement and trend analysis of UHP Graphite Electrode (600MM) in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

UHP Graphite Electrode (600MM) Price Trend for Q1 of 2025

During Q1’25, UHP Graphite Electrode (600MM) prices demonstrated a notable upward trajectory after experiencing relative stability in late 2024. The quarter began with modest price levels but gained momentum as market dynamics shifted favourably for manufacturers. By February, prices strengthened considerably due to supply constraints and increased demand from steel producers utilizing electric arc furnaces.
 

UHP Graphite Electrode (600MM) Price Chart

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The market received significant support in March when Japan announced a 95.2% anti-dumping duty on Chinese graphite electrode exports, effective March 29. This regulatory action prompted immediate price adjustments across global markets. Chinese manufacturers responded proactively by implementing price hikes for high-power grade electrodes, which further accelerated the upward trend.

Indian manufacturers like HEG and Graphite India benefited substantially from these developments, as their export competitiveness improved. The quarter closed with UHP electrode prices showing an approximate 7% increase from January levels, representing the strongest quarterly performance since early 2023. Steel mills worldwide scrambled to secure supplies, particularly for premium 600MM UHP electrodes, amid concerns about potential shortages.

Analyst Insight

According to Procurement Resource, the Graphite Electrode market is expected to remain bullish through mid-2025 as Japanese tariffs reshape global trade flows and Chinese supply becomes more expensive. However, new capacity additions planned for late 2025 may eventually moderate price growth.
 

UHP Graphite Electrode (600MM) Price Trend for the Second Half of 2024

UHP Graphite Electrode prices followed a consistent downward trajectory throughout the second half of 2024. This decline was most pronounced in the third quarter and continued, albeit at a slower pace, during Q4. The price erosion stemmed primarily from an imbalance between supply and demand fundamentals across major markets.

The North American market saw prices drop due to high import levels and weak domestic demand. Electric vehicle production adjustments and construction sector slowdowns reduced consumption significantly. European prices fell even more sharply, with Germany experiencing the steepest decline amid manufacturing weakness and plummeting EV registrations. Battery electric vehicle sales contracted substantially year-over-year, creating additional downward pressure.

In the APAC region, particularly China, prices decreased steadily as manufacturers scaled back production in response to weakening demand. Export activity diminished due to tighter controls and geopolitical tensions. The supply-demand gap widened as key consuming sectors like construction and automotive underperformed expectations.

Seasonal factors amplified these trends, with Q4 showing typical year-end slowdowns across regions. Despite governmental efforts to diversify supply chains, the market remained oversupplied throughout the period.

Analyst Insight

According to Procurement Resource, the Graphite Electrode market will likely exhibit stabilization in early 2025, with cautious optimism emerging from business sentiment indicators and strategic production adjustments already implemented by major manufacturers.
 

UHP Graphite Electrode (600MM) Price Trend for the First Half of 2024

In the first half of 2024, UHP Graphite Electrode (600MM) prices exhibited a mixed trend, influenced by both oversupply and rising demand in different sectors. Early in the year, prices remained under pressure due to a continued oversupply of natural graphite, which impacted the overall graphite market, including products like UHP electrodes.

The oversupply was exacerbated by China’s dominance in the graphite supply chain and its imposition of export controls, which led to fluctuating availability and uncertainty in international markets. However, as demand for graphite began to increase, particularly in the clean energy and electric vehicle sectors, there was an upward shift in market dynamics. The growing use of synthetic graphite, which became more cost-effective for anode production, also played a role in stabilizing prices. In June, slight price increases were noted, driven by rising demand for high-purity graphite used in lithium-ion batteries.

Analyst Insight

According to Procurement Resource, while the first half of 2024 saw some downward pressure due to oversupply, the emerging demand from the energy transition helped stabilize and push prices upward, positioning UHP Graphite Electrodes for potential price increases in the near future.
 

UHP Graphite Electrode (600mm) Price Trend for the Second Half of 2023

The steel industry, especially in the electric arc furnace steelmaking processes, is the main driver of the UHP Graphite Electrode (600mm) market. Because of its exceptional heat resistance and electrical conductivity, UHP graphite electrodes are crucial for high-power EAFs. The need for UHP graphite electrodes is also fueled by the trend toward EAF steel production, which is further influenced by cost considerations and environmental laws.

The prices of UHP graphite electrode (600mm) followed northward direction as its trajectory was shaped by the limited number of inventories and exponentially rising demand from the downstream industries. The APAC region highlighted the interest of the rest of the globe being shifted in its direction as the number of export shipments from Chinese folds witnessed a significant shoot-up. This excessive overseas demand intensified after the blockage of the Red Sea route and the depletion in the inventory level of the import-dependent countries.

In Europe, the outlook of the automotive and steel market did not improve drastically but it was marginal enough to boost the procurement rates of UHP graphite electrode (600mm) and support the surge in its prices. Additionally, unplanned shutdowns and limited availability of raw materials also projected a positive influence on the prices and price trend trajectory of the UHP graphite electrode (600mm).

Analyst Insight

According to Procurement Resource, the price of UHP Graphite Electrode (600mm) is expected to outpace its production rates as, in view of the rising recovery of the global economy, the industrial sectors are increasing their appetite for UHP graphite electrode (600mm).
 

UHP Graphite Electrode (600MM) Price Trend for the First Half of 2023

The UHP Graphite Electrode (600MM) observed very mixed price trend in the first half of the year 2023. Prices fluctuated as per the downstream demands from steel, metal, and other nonmetal industries. Prices wavered in a very narrow range as the downstream demands behaved in a very stable manner. However, the consistent normalization in upstream costs over months, which were interrupted and grew because of various geopolitical and geoeconomic tensions, had a substantial impact on the UHP Graphite Electrode production costs. Because of this declined cost support from upstream factors, the UHP Graphite Electrode price trend swung low but in a very narrow range.

In the Indian domestic UHP Graphite Electrode (600MM) market, even though there were constant fluctuations in the price trend, an overall decline of about 4% was observed at the end of Q2, with prices averaging around 4963 USD/MT (EXW, India) throughout the said period.

Analyst insight

According to Procurement Resource, the UHP Graphite Electrode (600MM) prices are expected to showcase similar mixed price patterns in the upcoming months as well, given the current uncertainties in the world economy.
 

UHP Graphite Electrode (600MM) Price Trend For the Second Half of 2022

With the Chinese government placing restrictions and proposing mandatory production cuts, the entire supply-demand dynamics were affected both domestically and international. Given the slowdown, construction activities were highly affected causing the steel prices to fall further and affecting the prices of graphite electrodes.

The lowered prices were further affected by destocking as the manufacturers wanted to make room for new production. However, the prices began to stabilize towards the end of Q4 as the international crude oil prices stabilized.
 

UHP Graphite Electrode (600MM) Price Trend For the First Half of 2022

Owing to the Russia-Ukraine geopolitical conflict a huge economic backlash was unleashed whose repercussions were felt far and wide. The prices of crude oil and gas jumped manifold due to drastic supply cuts and complex logistics. The raised prices further affected the price trend for graphite electrodes. Also, the considerably high steel demand caused the graphite electrode prices to swell. However, the prices began to fluctuate towards the end of Q2 as the market demand turned negative due to the cautious buying activity of buyers amid the fear of a global recession.

Analyst Insight

Graphite electrode prices are expected to rise in the coming quarter given the resumption of construction activities. The strong demand from the steel sector will further support the consistent rise in prices.

Procurement Resource provides latest prices of UHP Graphite Electrode (600MM). Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.