On September 12, in response to evolving market dynamics, Resonac’s graphite business unit has announced a global price increase of at least 20% on all new graphite electrode orders.
Over the past two years, the graphite electrode (GE) industry has faced significant price declines and widespread financial losses due to severe overcapacity. To address these market conditions, most competitors have announced and implemented measures to reduce production capacity.
As mentioned during the recent Q2 2024 earnings call, Resonac Graphite is also planning structural reforms for its graphite electrode capacity and will shift some manufacturing operations towards producing anode materials for electric vehicle batteries (EVB). The company expects to provide more guidance on these production plans in the coming weeks.
“For over eighty years, Resonac has been a leading and stable supplier of high-quality graphite electrodes. To become a long-term, sustainable supplier for the global steel industry, Resonac Graphite must achieve adequate returns to reinvest in our operations,” said César Castiñeira, President and CEO of Resonac’s Graphite.
He added: “While this step will not bring us to that level, we remain committed to our core values: innovation, quality, and customer satisfaction. As we address these challenges, we aim to invest in technology, enhance our product offerings, and provide exceptional value to our customers. Resonac’s goal is to ensure our customers receive and appreciate the best solutions while promoting a more sustainable industry landscape.”
Source: WeChat Official Account—鑫椤资讯
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