[September 12, 2024] — In response to the evolving market dynamics, Resonac Graphite Business Unit is announcing a minimum 20% global price increase on all new graphite electrode orders. 

Over the past two years, in the face of a substantial oversupply of capacity, the GE industry has experienced a significant decrease in prices and widespread, severe financial losses. In response to these market conditions most competitors have already announced and undertaken measures to reduce capacity.

As mentioned in the recent 2Q2024 earnings call, Resonac Graphite is also planning structural reforms to its graphite electrode capacity and shifting a portion of its manufacturing to produce anode materials for electric vehicle batteries (EVB). The company expects to provide more guidance on those production plans in the coming weeks.

“For over eight decades, Resonac has been an industry leader and a stable supplier of high-quality graphite electrodes. To remain a long-term, sustainable supplier to the global steel industry, Resonac Graphite must earn enough returns to reinvest in our business,” said César Castiñeira, President & CEO of Resonac Graphite BU. He continued, “While this first step will not get us to that level, we remain committed to our core values of innovation, quality, and customer satisfaction. As we navigate these challenging times, we want to invest in technology, enhance our product offerings, and deliver exceptional value to our clients. Resonac’s goal is to ensure that our customers receive and value the best possible solutions while also promoting a more sustainable industry landscape.”

“We appreciate the ongoing support and loyalty of our customers, and our global commercial teams are available to answer any questions about the new pricing structure.”