Fastmarkets unveils Chinese synthetic graphite feedstock prices, enhancing transparency in battery anodes

Fastmarkets, an industry-leading cross-commodity price reporting agency (PRA), takes a significant stride towards fostering transparency in the battery anode market with the launch of prices for synthetic anode feedstock of needle coke and green petroleum coke. These prices were successfully launched on July 26 with multiple trades reported.

Petroleum needle coke and green petroleum coke are both vital feedstocks for synthetic graphite anode materials used in lithium-ion batteries.

Fastmarkets will assess petroleum needle coke and green petroleum coke every Wednesday on an ex-works China basis, 0.5% sulfur, in yuan per tonne. As well, Fastmarkets introduces a value-in-use tool for green petroleum coke for higher sulfur contents, ranging from 0.5% to 2% in increments of 0.5%. The new price assessments will be published every Wednesday by 4 pm London time. View the price specifications here.

Demand for electric vehicles (EVs) continues to surge, with battery production projected to rise at a CAGR of 16% from 2023 to 2033. In 2022, EV battery production already witnessed a substantial year-on-year increase of 44% to 606 GWh. Fastmarkets’ research team forecasts EV GWh to soar to 3,800 GWh by 2033, signifying a remarkable rise in graphite consumption for lithium-ion battery production. With around 800-900 tonnes of graphite consumed per GWh of lithium-ion battery production, the implications for graphite demand are considerable.

The battery sector’s graphite demand will grow to nearly 3 million tonnes in 2033 from 508,000 tonnes in 2022, according to Fastmarkets’ estimates. Because the synthetic graphite anodes market is not yet fully commoditized for reliable pricing, the new petroleum needle coke and green petroleum coke prices will serve as valuable indicators for the broader synthetic anodes market. This development enables industry participants to track the evolving feedstock choices among anode producers, facilitating better-informed decisions.

Raju Daswani, CEO of Fastmarkets, commented: “We are proud to launch the prices for synthetic anode feedstock, a crucial step towards greater transparency in the lithium-ion battery sector. With soaring demand for EVs, these price assessments will provide market players with essential insights into the feedstock market dynamics, fostering growth and investment in the industry.”

Fastmarkets – through its growing global team of over 35 dedicated experts focused on pricing, analytics, news, and content for the battery raw materials – already provides industry benchmarks for lithium, cobalt, and nickel combined with market insight reports and data for the battery and electronic vehicle industry.