UHP Graphite Electrode (600MM) Price Trend and Forecast

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 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.

UHP Graphite Electrode (600MM) Price Chart

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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.