Gratomic Inc has reported that global natural graphite pricing has significantly increased over the course of the last year, with demand continuing to outstrip supply amid the electric vehicle (EV) market’s rapid growth.
As per Benchmark Mineral Intelligence data, the company said graphite prices have continued to increase steadily since January 2021 on all types of graphite with fine increasing by 45% from US$500 per tonne in January 2021 to US$983 per tonne in May of 2022.
Large flake graphite increased by 20% from US$983 per tonne in January 2021 to US$1,187 per tonne in May 2022, while spherical graphite increased 8% from US$2,958 per tonne in January 2021 to US$3,207 per tonne in May 2022.
READ: Gratomic announces first batch of production representative samples for its Aukam plant in Namibia
Gratomic also noted a 36% increase in -100 mesh, 90-93% Cg, and a 52% increase in -100 mesh, 94-95% Cg, which the company said was of significance to the electric vehicle li-ion battery industry because it was reflective of the specific graphite size required for anode production which has limited availability.
“This combined with the fact that graphite is the second-largest component by weight in a li-ion battery sets the stage for increased demand over time,” the company said.
Gratomic also highlighted an article published by Fastmarkets in February which stated that graphite demand from the EV battery sector is forecast to rise by more than 35% in 2022. It noted that the article said the market demand will increase from over 430,000 tonnes to nearly 600,000 tonnes over the course of the year.
Gratomic is focused on becoming a leading global graphite supplier with projects in Namibia, Brazil, and Canada.
Contact the author Emily Jarvie at emily.jarvie@proactiveinvestors.com
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