【GE】November Graphite Electrode Exports Rebound, Russia Leads, Hong Kong Sees Dramatic Growth

According to customs data, China's graphite electrode exports in November 2024 reached 27,400 tons, a month-on-month increase of 18.15% and a year-on-year increase of 21.64%.This growth is attributed to the recovery in overseas demand and a low base from the previous year. Overall, from January to November 2024, China's total graphite electrode exports amounted to 275,900 tons, virtually unchanged from the same period last year, with a slight increase of 1.64%.

Most of the major export destinations showed a significant rebound in export volume compared to the previous month. In terms of countries, Russia, the UAE, and South Korea ranked as the top three destinations for China's graphite electrode exports.

The export volume to Russia was 3,200 tons, a month-on-month increase of 26.88%, indicating a steady rise in demand from Russia. Exports to the UAE reached 2,900 tons, a dramatic increase of 153.94%. Exports to South Korea totaled 2,800 tons, up 148.05%. It is noteworthy that Pohang Steel in South Korea has decided to produce graphite electrodes in-house, which could reduce future imports of Chinese graphite electrodes.

Exports to Hong Kong were 2,600 tons, an extraordinary growth of 416.42%. As a transshipment trade hub, many companies use Hong Kong to re-export products to third countries or regions. These goods typically do not enter the local Hong Kong market but are instead re-exported after undergoing procedures like customs clearance, re-packaging, or labeling.

Additionally, traditional export destinations such as Japan, India, Taiwan, Italy, Vietnam, and Mexico also showed varying degrees of growth in demand.

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