【Graphite Electrodes】Forecast Analysis of China's Graphite Electrode Production and Export Volume in 2024

Graphite electrodes are vital conductive materials in the electric smelting industry. They offer excellent electrical and thermal conductivity, high mechanical strength, and strong resistance to oxidation and corrosion at high temperatures. Widely used in electric arc furnaces for steelmaking, submerged arc furnaces for producing ferroalloys, silicon metal, yellow phosphorus, blister copper, and calcium carbide, as well as in resistance furnaces (such as graphitizing furnaces for graphite electrodes, glass melting furnaces, and silicon carbide production furnaces), they have become an integral part of the modern raw materials industry.

Graphite Electrode Production 

In recent years, the rapid growth of industries like steel, aluminum, and industrial silicon has driven an increase in graphite electrode production. According to the "2024-2029 China Graphite Electrode Market Status and Future Development Trends" report by the China Business Industry Research Institute, China's graphite electrode production in 2023 reached 873,000 tons, up 14.29% year-on-year. Analysts at the institute predict that with policies encouraging the shift from blast furnaces to electric arc furnace (EAF) short-process steelmaking, production will rise to 1,002,000 tons in 2024.

Data Source: ICC, China Business Industry Research Institute

Graphite Electrode Exports Due to declining operating rates and capacity utilization in both domestic and international blast furnaces and electric arc furnaces, demand for graphite electrodes has eased, resulting in a decrease in exports. The China Business Industry Research Institute report indicates that China's total graphite electrode exports in 2023 were 330,500 tons, down 3.34% year-on-year. However, analysts predict that export volumes will rebound to 356,000 tons in 2024.

Source: China Business Industry Research Institute

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