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Base Year
Historical Period
Forecast Period
Germany remained the priciest graphite electrode market tracked here through the first half of the year 2026 (H1 2026), with Q2 closing at a value of USD 4494/MT against Q1's USD 4415/MT, up 1.8%. Steady electric-arc-furnace steelmaking demand kept a floor under the market, and the firmer needle coke feedstock costs added their own pull. The global average moved from USD 4152/MT to a value of USD 4227/MT, a similar gain of just a 1.8% percent. For the second half of 2026 (H2 2026), a range of an amount of USD 4185 to 4515/MT looks likely worldwide, supported by dependable electric-arc-furnace demand.
Graphite electrode is made from needle coke, coal tar pitch, and petroleum coke, blended and graphitized at very high temperature to produce the conductive carbon columns used in electric-arc-furnace steelmaking. Electric-arc-furnace operations pull the largest share of demand by a wide margin, the electrodes carrying the current that melts scrap steel into new product. Silicon metal production draws on the remainder. Three things move the price: needle coke feedstock costs, electric-arc-furnace-sector demand tied to scrap-based steelmaking, and the graphitization energy costs that production depends on heavily.
The second half of 2026 (H2 2026) opened firm across every market tracked here. Germany and Japan both saw the steady electric-arc-furnace demand support firmer pricing. India's growing electric-arc-furnace capacity kept demand building, and China's large production base kept it the most affordable of the four, even as the domestic demand firmed alongside everyone else.
A couple of factors bear watching. A needle coke feedstock cost spike, or a stronger than expected electric-arc-furnace capacity expansion, could actually push the prices past the top of the range. A slowdown in scrap-based steelmaking demand could pull the market below the floor instead.
| Region | 2026 Price Range (USD/MT) | Outlook |
| Global Average | 4185 - 4515 | Electric-arc-furnace steelmaking demand supports |
| China | 3815 - 4110 | Large production base keeps China most affordable |
| India | 4185 - 4505 | Growing electric-arc-furnace capacity |
| Japan | 4345 - 4680 | Established production commands premium |
| Germany | 4450 - 4790 | Steady electric-arc-furnace demand |
China's graphite electrode producers passed through the firmer needle coke costs in the second quarter, and the domestic demand held steady. The gain came to a value of 1.8%, from USD 3784/MT to USD 3854/MT.
Why did the price of Graphite Electrode change in Q2 2026 in China?
Needle coke feedstock costs firmed through the quarter. The domestic demand held steady. The quarter closed at a value of USD 3854/MT.
India climbed 1.8% to a value of USD 4227/MT, with the growing electric-arc-furnace capacity continuing to build demand through the period.
Why did the price of Graphite Electrode change in Q2 2026 in India?
Electric-arc-furnace capacity kept expanding. Feedstock costs firmed some more. The quarter closed at USD 4227/MT.
Japan gained 1.8%, reaching a value of USD 4386/MT, as the established production base kept demand firm through the period.
Why did the price of Graphite Electrode change in Q2 2026 in Japan?
The established production base kept demand firm. Feedstock costs firmed through the quarter. The quarter closed at a value of USD 4386/MT.
Germany firmed by 1.8% to a value of USD 4494/MT, with the electric-arc-furnace demand staying steady through the quarter.
Why did the price of Graphite Electrode change in Q2 2026 in Germany?
Electric-arc-furnace demand stayed steady. Feedstock costs climbed some more. The quarter closed at USD 4494/MT.
China gained 1.8%, reaching a value of USD 3784/MT, as demand firmed up as the year opened.
Why did the price of Graphite Electrode change in Q1 2026 in China?
Domestic demand firmed as the year opened. Feedstock costs edged higher. The quarter closed at a value of USD 3784/MT.
India climbed 1.8% to a value of USD 4152/MT, with electric-arc-furnace capacity building through the quarter.
Why did the price of Graphite Electrode change in Q1 2026 in India?
Electric-arc-furnace capacity built through the quarter. Feedstock costs firmed. The quarter closed at USD 4152/MT.
Japan gained 1.8% to a value of USD 4309/MT, with the production base staying firm through the quarter.
Why did the price of Graphite Electrode change in Q1 2026 in Japan?
The production base stayed firm. Feedstock costs firmed modestly. The quarter closed at a value of USD 4309/MT.
Germany rose 1.8%, reaching USD 4415/MT, as electric-arc-furnace demand firmed with the new year.
Why did the price of Graphite Electrode change in Q1 2026 in Germany?
Electric-arc-furnace demand firmed with the new year. Feedstock costs continued climbing steadily. The quarter closed at a value of USD 4415/MT.
The global average climbed steadily across the window, from a value of USD 3950/MT in the first quarter of 2025 to a value of USD 4227/MT by the second quarter of 2026, a net gain of about 7.0%. Every single quarter posted a gain, the steady climb reflecting firming needle coke feedstock costs and dependable electric-arc-furnace-sector demand across every market tracked here.
| Quarter | Price (USD/MT) | QoQ Change | Direction |
| Q2 2026 | 4227 | +1.8% | ↑ Rising |
| Q1 2026 | 4152 | +1.8% | ↑ Rising |
| Q4 2025 | 4078 | +1.1% | ↑ Rising |
| Q3 2025 | 4034 | +1.1% | ↑ Rising |
| Q2 2025 | 3990 | +1.0% | ↑ Rising |
| Q1 2025 | 3950 | - | - Stable |
2025 was a steadily firming year for graphite electrode across every market tracked here. The global average opened near a value of USD 3950/MT in the first quarter and climbed in every quarter to close the fourth at USD 4078/MT, a full year gain of 3.2%. Every region we track posted a gain in the same range, as firming needle coke feedstock costs and steady electric-arc-furnace demand moved the market broadly in step.
China opened 2025 at a value of USD 3600/MT and closed the year at USD 3716/MT, a 3.2% gain, the most affordable of the four markets throughout on its large domestic production base. Net direction for the year: solidly higher, with steady domestic demand the main driver.
India opened 2025 at USD 3950/MT and closed at a value of USD 4078/MT, a 3.2% gain. Growing electric-arc-furnace capacity kept building demand through the year. Net direction for the year: solidly higher, with expanding capacity the main driver.
Japan opened 2025 at a value of USD 4100/MT and closed at USD 4233/MT, a 3.2% gain. The established production base kept demand firm throughout the year. Net direction for the year: solidly higher, with steady production-linked demand the main driver.
Germany opened 2025 at USD 4200/MT and closed at a value of USD 4336/MT, a 3.2% gain, the highest absolute price throughout the four markets. Electric-arc-furnace demand stayed steady throughout the year. Net direction for the year: solidly higher, with steady electric-arc-furnace demand the main driver.
Expert Market Research: Your Source for Real-Time Graphite Electrode Price Intelligence
Expert Market Research keeps a continuous watch on the graphite electrode pricing across every major producing and consuming region. A price alone says little, so the analysts here dig into what actually drives it: needle coke feedstock economics, electric-arc-furnace-sector demand tied to scrap-based steelmaking, and graphitization energy cost trends. The forecasts draw on feedstock trends, capacity data, and trade-flow shifts across all four reporting regions. Contact Expert Market Research today for the graphite electrode pricing data, bespoke market analysis, and strategic procurement advisory.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
Electric-arc-furnace operations pull the largest share of demand by a wide margin, the electrodes carrying the current that melts scrap steel into new product. Silicon metal production draws on the remainder.
Q2 2026 averages: a value of USD 3854/MT in China, USD 4227/MT in India, USD 4386/MT in Japan, and USD 4494/MT in Germany. Steady electric-arc-furnace demand makes Germany the priciest of the four.
Steadily higher. The global average rose from USD 4078/MT in Q4 2025 to a value of USD 4152/MT in Q1 2026, and then to USD 4227/MT in Q2, a 3.7% gain across the half, on firming needle coke feedstock costs.
Needle coke feedstock costs firmed across every region, while electric-arc-furnace-sector demand held steady to strong, with India's growing capacity pulling notably hard.
Figure on a range of USD 4185 to 4515/MT globally for the rest of the year. Dependable electric-arc-furnace demand supports the move.
Germany carries the firmest premium on steady electric-arc-furnace demand, Japan sits close behind on its established production base, India trades in a middle tier on growing capacity, and China stays the most affordable on its large domestic production base.
Monthly. For the live figures, reach out to the Expert Market Research team.
Needle coke feedstock costs are the main lever, electric-arc-furnace-sector demand close behind, and then graphitization energy costs.
China holds the largest domestic production base, while Japan, Germany, and India host established and growing producers serving their own regional electric-arc-furnace industries.
Lean on the quarterly trends and forecasts to time electric-arc-furnace-linked purchasing around needle coke feedstock cycles. Tracking scrap-based steelmaking capacity trends can help buyers anticipate demand shifts before they show up in spot prices.
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