US graphite demand projected to surge more than 600% by 2034; Fastmarkets introduces regional price benchmark 

Read how Fastmarkets is introducing a regional graphite price benchmark for the US

Fastmarkets, a leading price-reporting agency (PRA) renowned for its cross-commodity market analysis and price data, is proud to announce the launch of a price assessment for US graphite flake. This new pricing benchmark aims to provide greater transparency and reliability for battery manufacturers, graphite producers and investors. 

The timing of this price launch aligns with recent shifts in the global regulatory landscape and burgeoning demand for battery-grade materials. Graphite is a crucial raw material in the anode of lithium-iron phosphate (LFP) and nickel-cobalt-manganese (NCM) batteries. 

Interest in regional graphite prices has spiked following the implementation of China’s export controls on graphite as well as the US Inflation Reduction Act (IRA) and updated Section 301 tariffs. These last two regulatory changes reflect the US government’s ambition to establish a more independent graphite supply chain, which Fastmarkets anticipates in turn to create a distinct market in terms of pricing. 

US graphite demand is set to rise by more than 600% to almost 700,000 tonnes by 2034, according to Fastmarkets principal analyst Amy Bennett

“This is a pivotal moment in the US graphite sector, with the US aiming to de-risk from China and become more self-sufficient in the graphite space, particularly for battery-grade materials,” Bennett said. “The combination of incredible growth and the impact of the IRA and Section 301 tariffs will by necessity prompt the development of a US pricing premium – Fastmarkets has the expertise to deliver this new price to the market.”  

Fastmarkets is committed to bringing transparency to commodity markets that support the transition to a low-carbon economy. This new graphite price is tailored to meet the needs of the energy transition, focusing on battery-grade graphite. It will serve as a valuable tool for domestic graphite producers and consumers, as well as the broader battery supply chain. This aligns with Fastmarkets’ commitment to supporting the growing interest in sustainable and efficient energy solutions. 

“The launch of this US graphite flake price assessment marks a significant step forward for the industry, providing much-needed transparency and a reliable benchmark for market participants and potential investors,” said Grace Asenov, Fastmarkets’ base and energy metals editor for the Americas. “This new price complements existing benchmarks in Europe and Asia, providing a comprehensive view of the global graphite market.”  

Email media@fastmarkets.com to connect with our team and find out how Fastmarkets can help you

What to read next
The market for silicon anodes is likely to develop rapidly, independently of growth in the ex-China graphite supply chain, according to the chief executive officer of a leading silicon anode producer.
Read more about the agreed on MOU between Fastmarkets and GME
Fastmarkets invited feedback from the industry on the pricing methodology for its International Organization of Securities Commissions (IOSCO)-audited non-ferrous metals, via an open consultation process between October 8 and November 7, 2024. This consultation was done as part of our published annual methodology review process.
Read Fastmarkets' monthly battery raw materials market update for November 2024, focusing on raw materials including lithium, cobalt, nickel, graphite and more
Non-Chinese graphite producers were measured in their reaction to Donald Trump’s re-election on Wednesday November 6, predicting an unclear net impact of his potential policies on the build-out of supply chains for the battery raw material outside of China.
Sluggish demand for China’s graphite flake fines in both the batteries’ anode and refractories sectors has led to ongoing output cuts among flake miners and processors, which has further tightened the supply of large flake graphite in China, sources told Fastmarkets.