【Graphite Electrodes】Prices for UHP and HP Electrodes in China Rise by RMB 500/Ton in Early March

This week (Feb 23–Mar 1), prices of ultra-high power (UHP) and high power (HP) graphite electrodes in China increased by RMB 500/ton, while regular power (RP) electrode prices remained stable. The mainstream price for UHP 400mm electrodes reached RMB 16,900/ton, up RMB 500/ton. HP 400mm electrodes were priced at RMB 16,500/ton, also up RMB 500/ton. RP 400mm electrodes held steady at RMB 15,500/ton.

On the supply side, major manufacturers maintained stable production while fulfilling orders, but rising raw material costs and weak profitability kept overall production at a low level. On the demand side, downstream electric arc furnace (EAF) plants saw a significant recovery in operating rates and capacity utilization, driving strong demand.

Looking ahead to next week, downstream demand is expected to continue improving, and new order volumes are likely to grow, supporting stable graphite electrode prices.

The sharp increase in EAF operating rates and capacity utilization this week was driven by the gradual resumption of production at EAF steel mills. In the coming week, a steel plant in South China plans to restart production on February 25 with a 70T EAF, while two steel plants in Central China's Hubei province plan to resume production on February 21, involving 100T and 70T EAFs. Overall, EAF operating rates and capacity utilization are expected to see a slight increase next week.

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