Natural Graphite Market Update: China’s Exports Decline and Global Supply Diversifies

In May 2025, China’s flake graphite exports fell for the second consecutive month, while new projects in Australia and rising U.S. tariffs on Chinese graphite are reshaping the global supply landscape.

China’s flake graphite exports dropped to 8,716 mt in May 2025, down 3 % month‑on‑month and 10 % year‑on‑year, according to SMM analysis. At the same time, spherical graphite exports plunged 39 % MoM, reflecting softer downstream demand and logistical bottlenecks.

To reduce reliance on China, Queensland fast‑tracked a US $1.2 billion graphite mine and processing plant in Croydon and Townsville, respectively. The project—backed by Japan’s Idemitsu and Indonesia’s Baramulti—will create over 230 jobs and aims to bring hard‑rock volcanic graphite, prized for high‑performance EV anodes, to market by 2027 .

Meanwhile, the U.S. Commerce Department imposed a 93.5 % anti‑dumping duty on Chinese graphite imports, pushing total duties to around 160 %. This move boosted shares of non‑Chinese producers such as Syrah Resources and Nouveau Monde Graphite, which rallied 22 % and 26 %, respectively.

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