According to customs data, the export volume of graphite electrodes from China in October 2024 was 22500 tons, a decrease of 14.50% compared to the previous month and a decrease of 0.25% compared to the same period last year. After the month on month decline in exports in September, the month on month decline in October has further expanded, indicating some recent weakness in the export market.
The main reason for the widening decline in exports this month can be attributed to weaker than expected overseas demand.
On the one hand, the frequent occurrence of geopolitical conflicts on a global scale has led to increased uncertainty in the international market, causing many overseas buyers to become more cautious and shrink their procurement plans, resulting in a marginal decline in China’s export demand for graphite electrodes.
On the other hand, based on historical data, October is often the month when export volumes decline month on month, which is related to seasonal factors and the pace of international market procurement.
However, overall, the export volume of Chinese graphite electrodes from January to October 2024 still reached 248500 tons, which is basically the same as the same period last year, with a slight increase of 0.09%.
From a country by country perspective, Russia, Iran and Türkiye rank top three in China’s graphite electrode export.
Among them, the amount of graphite electrodes exported to Russia was 2500 tons, a decrease of 22.66% compared to the previous period; The amount of graphite electrodes exported to Iran was 1700 tons, a decrease of 59.51% compared to the previous period, indicating a sharp decline in demand; In contrast, the Türkiye market shows a certain growth potential. The amount of graphite electrodes exported to Türkiye is 1200 tons, an increase of 34.62% month on month.
In addition, the demand for traditional export destinations such as Mexico, the United Arab Emirates, South Korea, and India has also shown varying degrees of decline.
Despite facing some challenges in the export market recently, the export of Chinese graphite electrodes has maintained a relatively stable performance. The decline in export growth rate in October is temporary. Based on the analysis of base and high-frequency data, the year-on-year growth rate of Chinese graphite electrode exports from November to December has a foundation for further recovery, and the growth rate is still expected to turn from negative to positive.
Post time: Nov-29-2024