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Indicative price brief for Spherical Graphite - China. Methodology: trade publications, broker reports, and industry sources reviewed by Nexchem. This is directional intelligence, not a regulated benchmark assessment.
China domestic spherical graphite battery grade 99.95% pricing in CNY/MT. Shanshan BTR and Putailai anode market analysis, natural versus synthetic graphite competition, IRA FEOC compliance implications, EV anode demand tracker, and 3-scenario price outlook. Published monthly.
Spherical graphite is down 14.7% year on year in June 2026 - the steepest decline among the advanced materials tracked by Nexchem - because Chinese synthetic graphite capacity built on the assumption of premium pricing over natural graphite has instead driven both markets down simultaneously, creating a cost convergence that is eliminating the rationale for premium pricing of either natural or synthetic anode grades.
China domestic spherical graphite supply is produced by Shanshan Technology, BTR New Energy Materials, and Putailai New Energy - collectively accounting for approximately 55% of Chinese spherical graphite capacity - through natural flake graphite purification and spheronisation processing. Chinese domestic flake graphite mining in Heilongjiang and Shandong provinces provides the primary feedstock at approximately CNY 6,800 per metric tonne for 94% to 97% carbon grade. Synthetic graphite is produced by needle coke graphitisation at high temperature, requiring significantly more energy input than natural graphite processing but producing a more consistent anode material for high-rate charging applications. The natural versus synthetic graphite mix in Chinese EV batteries is approximately 68% natural and 32% synthetic in Q2 2026. Demand for Spherical Graphite in China is concentrated in battery materials, high-performance polymer, and energy transition applications, with procurement driven by qualification requirements, FEOC compliance mandates, and supply chain localisation policy rather than spot market economics alone. Natural Graphite Price Compression - Chinese synthetic graphite anode capacity expanded from approximately 320,000 MT per year in 2021 to an estimated 1.2 million MT per year in 2026.
This expansion - driven by the assumption that synthetic graphite would command a sustained . In the current 2026 supply and demand environment, Spherical Graphite pricing in China reflects both structural market conditions and active geopolitical supply chain disruption. The IMF confirmed in March 2026 that the closure of the Strait of Hormuz had disrupted approximately 20% of global seaborne oil and LNG supply. For China domestic spherical graphite, the Hormuz disruption has no direct supply chain impact - Chinese graphite mining and processing uses domestic flake graphite feedstock from Heilongjiang and Shandong, and the processing steps of purification, spheronisation, and coating use Chinese domestic inputs throughout. The primary pricing variables for Chinese spherical graphite in 2026 are domestic capacity utilisation rates, EV battery demand growth, and the IRA FEOC policy framework - all determined by Chinese industrial policy and US trade legislation rather than by Middle Eastern geopolitics. Chinese Graphite Non-Compliant for US EV Credits from 2025 - US IRA FEOC provisions restrict EV battery credits for vehicles using graphite from Chinese-controlled sources from 2025. Syrah Resources Australia, Novonix .
The paid report is a professionally formatted PDF with structured sections, colour-coded grade price tables, alert boxes, capacity atlas tables, a 3-scenario price outlook, and analyst cards. The accompanying Excel file contains all price data in editable format for direct integration into procurement models.
Full report preview available after subscription. Illustrative mock shown above.
Every Nexchem Intelligence price report includes field-level analyst commentary covering supply shortages, qualification timelines, geopolitical friction, and pricing pressure - not generic market narrative. Nexchem analysts are active in the market and attribute all field intelligence to verifiable primary sources.
The paid report includes full scenario assumptions, quarterly price ranges for Q3 2026, Q4 2026, and Q1 2027, probability weighting for each scenario, and a procurement recommendation tailored to each case - covering what to do if the bull case materialises, what to hedge in the base case, and how to protect exposure in the bear case.
The IMF confirmed in March 2026 that the closure of the Strait of Hormuz had disrupted approximately 20% of global seaborne oil and LNG supply. For China domestic spherical graphite, the Hormuz disruption has no direct supply chain impact - Chinese graphite mining and processing uses domestic flake graphite feedstock from Heilongjiang and Shandong, and the processing steps of purification, spheronisation, and coating use Chinese domestic inputs throughout. The primary pricing variables for Chinese spherical graphite in 2026 are domestic capacity utilisation rates, EV battery demand growth, and the IRA FEOC policy framework - all determined by Chinese industrial policy and US trade legislation rather than by Middle Eastern geopolitics.
Important: Nexchem Intelligence price reports are indicative price intelligence, not price assessments. We are not a Price Reporting Agency and our prices are not IOSCO-compliant. For contract settlement, mark-to-market valuation, or derivative pricing, use ICIS, Argus, or S&P Global Platts. Our reports are for procurement strategy, supply chain planning, and market analysis only.
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