China UHP graphite electrode prices to pick up further in Aug’25

• Chinese UHP graphite electrode prices rebound in July
• Rising raw material costs, strong EAF demand support prices

Mysteel Global: During July, the steady decline in Chinese prices of ultra-high-power (UHP) graphite electrodes that began in March finally ended, with prices at last showing some upward momentum, Mysteel’s recent report on the electrode market explains. Moreover, prices are seen strengthening further this month, driven by firm input-cost support, it notes.

Last month, the average price of 350mm diameter UHP graphite electrodes in East China’s Jiangsu province as assessed by Mysteel was Yuan 14,104/tonne ($1,968/t), higher by 4.3% from the average price in June, while that of 600mm electrodes in Jiangsu also increased, rising by 1.7% on month to Yuan 16,000/t, both excluding the 13% VAT.

The electrode prices were supported mainly by weighty increases in prices of raw materials crucial to manufacture such as coal-tar pitch and petroleum coke last month, Mysteel’s survey showed.

For example, by the end of July the price of 1# sponge coke offered by Daqing Petrochemical, a branch of China National Petroleum Corporation in Northeast China’s Daqing region, stood at Yuan 4,000/t, higher by a large 8.7% from end-June. Entering this month, the price has climbed further to Yuan 4,050/t as of August 6.

Petroleum coke prices are expected to continue strengthening in August, which will provide sustained upward momentum for UHP graphite electrode prices, according to Mysteel’s report.

Meanwhile, demand for UHP electrodes among domestic electric-arc-furnace (EAF) steel producers will probably stay firm for most of this month, as the mills are producing enthusiastically to chase better profits, Mysteel’s survey showed. This will also underpin electrode prices, the report noted.

During the week over July 25-31, the average capacity utilization rate among the 90 independent EAF steelmakers under Mysteel’s tracking stood at 57.1%, higher by a significant 15.1 percentage points compared with the same period last year.

Note: This article has been written in accordance with a content exchange agreement between Mysteel Global and BigMint.