【International Market】Chinese and Indian Graphite Electrodes May Face U.S. Tariff Investigation ...

【International Market】Chinese and Indian Graphite Electrodes May Face U.S. Tariff Investigation, U.S. Petroleum Coke Up 1.4%, Global Carbon Materials Market Sees Renewed Volatility

I. Changes in the Graphite Electrode Industry! U.S. Company Requests Investigation into Chinese and Indian Exports, Seeks Additional Tariffs

According to PR Newswire, GrafTech International Ltd. is a leading manufacturer of high-quality graphite electrode products, which are key consumables in electric arc furnace (EAF) steelmaking and the production of other ferrous and non-ferrous metals. On the 24th, the company announced its support for filing petitions with the U.S. Department of Commerce and the U.S. International Trade Commission (ITC), requesting an investigation into whether China and India are exporting large-diameter graphite electrodes to the United States at unfair prices (hereinafter referred to as "large-diameter electrodes").

The petition alleges that China and India export large-diameter electrodes at prices below fair value, causing injury to the U.S. domestic graphite electrode industry, and that the governments of both countries provide subsidies for the production and export of large-diameter electrodes. The law firm representing the case, Kelley Drye & Warren LLP, concluded through professional analysis that the petition alleges subsidy margins of up to 74% for large-diameter electrodes exported from India and up to 147% for those exported from China. The petition requests that the U.S. government impose additional tariffs to counteract the subsidy practices of the Chinese and Indian governments toward their domestic graphite electrode industries. The large-diameter electrodes referred to in this petition are defined as graphite electrodes with a diameter exceeding 425 mm (16.7 inches).

Timothy Flanagan, Chairman and Chief Executive Officer of the company, stated: "We strongly support this petition as part of our commitment to upholding fair market conditions for the U.S. graphite electrode industry. Ensuring fair competition is critical to the sustainable development of U.S. manufacturing and the steel industry. We believe the U.S. Department of Commerce and the International Trade Commission will conduct a comprehensive investigation and take necessary actions to address these unfair trade practices."

II. Up 1.4%! U.S. Petroleum Coke Prices Rise Again: Tight Supply, Diverging Demand, Bullish Outlook

As of mid-February 2026, the U.S. petroleum coke market has strengthened. Due to refinery capacity reductions, logistics disruptions, and continued industrial demand consumption, spot prompt supply remains tight.

Delays in delayed coking projects and refinery maintenance shutdowns have reduced the volume of freely tradable spot supply; meanwhile, demand from the cement and aluminum industries has provided fundamental support to the market. Winter river icing and inland lock closures have further intensified the tightness of prompt cargo supply, prompting power producers and buyers to reassess their inventory strategies.

Industry trends show divergence: industrial demand remains strong, while purchasing willingness from power producers is relatively weak. Cement producers and aluminum smelters provide support to the fuel-grade petroleum coke and anode-grade petroleum coke markets, respectively. As natural gas prices remain competitive, power producers maintain a cautious stance, restraining incremental spot demand.

Supply-side disruptions and changes in the feedstock market have further intensified market reactions. Multiple production shutdowns have reduced incremental supply: gradual capacity reductions in the Houston area, delays in the Garyville delayed coking project, idling of the Paulsboro refinery, coupled with lock transit restrictions, have collectively pushed up prompt cargo valuations. Weekly assessments show firm spot price trends, continuing to rise in mid-February, in contrast to weakening delivered prices.

Looking ahead, supported by refinery capacity reductions and logistical constraints, the market still faces upward risks in February; seasonal factors may further exacerbate the tight supply situation.

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