Graphite Price Trend and Forecast 2026-2027

Graphite prices in Brazil, the highest-cost reporting region given its heavy dependence on import flows, eased 1.7% in Q2 2026 to USD 1,946.00/MT from USD 1,980.00/MT in Q1, as softer industrial offtake pulled prices back from their recent peak. Chinese prices continued a very different story, falling a further 3.2% to USD 542.00/MT, extending a decline that has cut nearly 18% off the market since the start of 2025. Globally, the average fell from USD 1,098.15/MT in Q1 to USD 1,080.11/MT in Q2, a 1.6% retreat. For H2 2026, a global average of USD 1,020.00-1,160.00/MT is expected, with stabilization likely as US-China trade agreements provide near-term clarity, even as structural supply chain concentration risk persists.

Graphite is a crystalline form of carbon used predominantly as the anode material in lithium-ion batteries, where each electric vehicle battery pack contains 50 to 100 kilograms of the material, alongside traditional applications in steelmaking as a carbon raiser and in refractories, lubricants, and industrial electrodes. The 2025 market split sharply between battery-driven demand growth and traditional steel-linked consumption, with China's dominant position in both natural graphite mining and synthetic graphite processing making regional supply chain diversification a slow, multi-year undertaking. Battery-grade demand for electric vehicles and energy storage, steel sector consumption, Chinese export policy, and trade tariff developments are what drive prices in this market.

Graphite Price Forecast for 2026

The outlook for Graphite through H2 2026 points to gradual stabilization as US-China trade agreements provide near-term clarity to a market that spent 2025 sharply divided between tariff-supported Western prices and oversupplied Chinese pricing. Structural supply chain diversification away from Chinese concentration will take years to meaningfully change the competitive landscape, meaning the underlying regional price gap should persist even as near-term volatility eases.

The main upside risk is a renewed escalation of trade tensions or export restrictions, which could widen the regional price gap further. The main downside risk is a faster-than-expected resolution of oversupply conditions in China combined with softer battery demand growth, which could narrow the gap from the Chinese side rather than the Western side.

For the Quarter Ending June 2026

Graphite Prices Q2 2026:

• Brazil: USD 1,946.00/MT
• United Kingdom: USD 1,453.00/MT
• Germany: USD 803.00/MT
• China: USD 542.00/MT

Graphite Prices in Brazil

Brazilian Graphite prices, the highest of any region tracked here, averaged USD 1,946.00/MT in Q2 2026, down 1.7% from USD 1,980.00/MT in Q1, as domestic market conditions were influenced by strong dependence on import flows and fluctuating freight considerations.

Why did the price of Graphite change in Q2 2026 in Brazil?

Industrial demand from metallurgy and battery-related applications remained steady but not strong enough to drive further price increases, and this market's reliance on imported material left it exposed to freight cost fluctuations that pulled prices modestly lower.

Graphite Prices in United Kingdom

UK prices averaged USD 1,453.00/MT in Q2 2026, down 0.5% from USD 1,460.00/MT in Q1, holding close to their prior level as tariff-supported pricing continued.

Why did the price of Graphite change in Q2 2026 in United Kingdom?

Tariff-driven supply tightness that had supported Western graphite markets through 2025 continued providing a floor under UK pricing, even as the pace of further gains slowed.

Graphite Prices in Germany

German prices averaged USD 803.00/MT in Q2 2026, down 1.5% from USD 815.00/MT in Q1, as subdued industrial demand from steel and automotive manufacturing sectors pressured this market.

Why did the price of Graphite change in Q2 2026 in Germany?

Prices remained under pressure from subdued industrial demand, particularly from the steel and automotive manufacturing sectors, while procurement cycles stayed conservative as buyers focused on inventory control and long-term contract stability.

Graphite Prices in China

Chinese prices averaged USD 542.00/MT in Q2 2026, the lowest of the four regions, down 3.2% from USD 560.00/MT in Q1, extending a decline tied to chronic oversupply that has now run for most of the past six quarters.

Why did the price of Graphite change in Q2 2026 in China?

Prices remained under downward pressure due to softer industrial offtake from steel and battery-related sectors, while procurement activity stayed cautious as end users managed inventories at controlled levels, and improved import availability from key supplying regions contributed to easing price momentum.

For the Quarter Ending March 2026

Graphite Prices Q1 2026:

• Brazil: USD 1,980.00/MT
• United Kingdom: USD 1,460.00/MT
• Germany: USD 815.00/MT
• China: USD 560.00/MT

Graphite Prices in Brazil

Brazilian prices rose 4.2% in Q1 2026 to USD 1,980.00/MT from USD 1,900.00/MT in Q4 2025, as import dependence and freight considerations continued shaping this market.

Why did the price of Graphite change in Q1 2026 in Brazil?

Strong dependence on import flows and fluctuating freight considerations continued to shape pricing, with industrial demand from metallurgy and battery-related applications providing steady, if not dramatic, support.

Graphite Prices in United Kingdom

UK prices rose 3.5% in Q1 2026 to USD 1,460.00/MT from USD 1,410.00/MT in Q4 2025, continuing the tariff-supported gains seen through 2025.

Why did the price of Graphite change in Q1 2026 in United Kingdom?

Tariff-driven supply tightness, a defining feature of the North American and closely linked Western European market through 2025, continued supporting firm pricing into the new year.

Graphite Prices in Germany

German prices rose 3.2% in Q1 2026 to USD 815.00/MT from USD 790.00/MT in Q4 2025, as steady industrial demand supported modest gains.

Why did the price of Graphite change in Q1 2026 in Germany?

Import flows from external suppliers remained consistent, contributing to adequate market availability, even as procurement cycles remained conservative and buyers focused on inventory control rather than aggressive restocking.

Graphite Prices in China

Chinese prices rose 2.8% in Q1 2026 to USD 560.00/MT from USD 545.00/MT in Q4 2025, an early sign of stabilization as significant increases in battery sector demand began to offset chronic oversupply.

Why did the price of Graphite change in Q1 2026 in China?

Significant price increases were realized in China and South Korea as global graphite price trends rose on demand from batteries, electric vehicle, and energy storage applications, with continued strategic sourcing and disciplined inventory management supporting the reversal from 2025's chronic oversupply.

Quarterly Graphite Price Trends

Global Graphite prices held broadly flat on a composite basis through most of 2025, masking a dramatic underlying divergence as North American and European tariff-supported markets rose steadily while Chinese prices collapsed nearly 18% on chronic oversupply, before both sides began partially converging in early 2026 as battery-sector demand growth reached even the oversupplied Chinese market.

What was Graphite Price in 2025?

Graphite told a dramatically divergent story across 2025. North America and Europe rose steadily on tariff-driven supply tightness, while Northeast Asia, led by China, declined sharply on chronic oversupply, reflecting the growing split between traditional steel-linked demand and the rising influence of battery applications on the global graphite trade.

Graphite Prices in Brazil in 2025

Brazilian prices firmed from about USD 1,780.00/MT in Q1 2025 to USD 1,900.00/MT by Q4, a gain of roughly 6.7%, tracking steady metallurgy and battery-related demand despite this import-dependent market's exposure to freight cost swings.

Graphite Prices in United Kingdom in 2025

UK prices firmed from about USD 1,300.00/MT in Q1 2025 to USD 1,410.00/MT by Q4, up roughly 8.5%, the strongest annual gain of the four regions, as tariff-driven supply tightness supported consistent gains through the year.

Graphite Prices in Germany in 2025

German prices firmed from about USD 750.00/MT in Q1 2025 to USD 790.00/MT by Q4, a gain of roughly 5.3%, tracking steady industrial demand through the year.

Graphite Prices in China in 2025

Chinese prices collapsed from about USD 660.00/MT in Q1 2025 to USD 545.00/MT by Q4, down roughly 17.4%, the only region among the four to post a sharply negative annual figure, as chronic oversupply and weak steel output weighed on this market throughout the year.

How We Can Help

Expert Market Research: Your Source for Real-Time Graphite Price Intelligence

Expert Market Research tracks Graphite prices continuously across every major producing and consuming region, combining battery-grade demand data, steel sector consumption trends, and Chinese export policy and trade tariff developments into a single, regularly updated view of the market. Our team can help your procurement function benchmark current offers, plan purchases around the sharp regional divergence covered in this report, and build a defensible view of where this critical battery material is headed next. Reach out to our team for a tailored briefing or a deeper look at any of the regional markets covered here.