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graphite shortage fears eased by June rainfall","chinas-graphite-shortage-fears-eased-by-june-rainfall","article/chinas-graphite-shortage-fears-eased-by-june-rainfall",{"_uid":557,"date":558,"tags":559,"editor":563,"content":573,"excerpt":581,"featured":50,"reporter":733,"_editable":737,"component":738,"seo_title":553,"categories":739,"visibility":749,"author_company":49,"featured_image":750,"seo_description":581,"author_full_name":49,"author_job_title":49,"formattedDate":755,"formattedArticleDate":756},"d2e0edd3-032c-428b-86f4-5897d6daed0c","2016-07-21 00:00",[560],{"slug":561,"name":562},"china","China",[564],{"slug":565,"name":566,"content":567},"didi-bostock","Didi Bostock",{"job_title":568,"image":569,"bio":571,"linkedin":572},"Editor - Energy Transition & Economics",{"filename":570},"https://a.storyblok.com/f/287943243085208/512x512/2c5ca5c1a3/didi-bostock.jpeg","Didi is the Energy Transition & Economics Editor at Benchmark, covering a broad range of markets across the energy transition. His remit spans from downstream sectors such as BESS and EVs, through to midstream such as new technologies and battery production, to upstream critical minerals mining. He also leads on financial analysis across these supply chains, alongside in-depth policy analysis.\n","https://www.linkedin.com/in/didi-bostock-656342198/",{"type":574,"content":575},"doc",[576,583,588,593,598,603,608,613,620,625,628,633,638,643,648,653,658,663,668,673,678,683,688,693,698,703,708,713,718,723,728],{"type":577,"attrs":578,"content":579},"paragraph",{"textAlign":49},[580],{"text":581,"type":582},"A drought in Pingdu county – one of two flake graphite producing areas in China’s processing capital – saw producers report problems in accessing water throughout Q2 2016.","text",{"type":577,"attrs":584,"content":585},{"textAlign":49},[586],{"text":587,"type":582},"With annual rainfall in the region falling by over 20%, there were fears that further dry weather conditions could limit supply from some of the country’s leading producers.",{"type":577,"attrs":589,"content":590},{"textAlign":49},[591],{"text":592,"type":582},"This had led to some minor increases in domestic Chinese prices in early-June, however pressures have since been quelled by increased rainfall.",{"type":577,"attrs":594,"content":595},{"textAlign":49},[596],{"text":597,"type":582},"The disruption to some operations as a result of more extreme weather serve as an example of the fragility in flake graphite supply.",{"type":577,"attrs":599,"content":600},{"textAlign":49},[601],{"text":602,"type":582},"While China alone accounts for over 65% of global flake concentrate supplies, the vast majority of this production comes from only two areas – Heilongjiang and Shandong provinces.",{"type":577,"attrs":604,"content":605},{"textAlign":49},[606],{"text":607,"type":582},"While Heilongjiang is the number one raw material producer by volume, Shandong remains the centre of the country’s processing capacities hosting many significant producers, particularly for valueadded grades such as spherical graphite for lithium-ion batteries.",{"type":577,"attrs":609,"content":610},{"textAlign":49},[611],{"text":612,"type":582},"Extreme weather, while uncommon in the region, was within weeks from having a major impact on the region’s processing capacity which could have caused supply shock waves much further downstream, with battery producers gearing up for megafactory production.",{"type":614,"attrs":615,"content":617},"heading",{"level":616,"textAlign":49},3,[618],{"text":619,"type":582}," Supply chain disruption",{"type":577,"attrs":621,"content":622},{"textAlign":49},[623],{"text":624,"type":582},"China is the world’s leading producer of flake graphite, controlling over 65% of global concentrate supply and dominating the production of value-added grades, such as spherical graphite for lithium-ion battery anodes.",{"type":577,"attrs":626,"content":627},{"textAlign":49},[],{"type":577,"attrs":629,"content":630},{"textAlign":49},[631],{"text":632,"type":582},"While Shandong province plays an integral role in China’s flake graphite processing capabilities, it is not unfamiliar to supply side shocks.",{"type":577,"attrs":634,"content":635},{"textAlign":49},[636],{"text":637,"type":582},"Only two years ago the regional government suspended mining activity in the region due to the environmental concerns.",{"type":577,"attrs":639,"content":640},{"textAlign":49},[641],{"text":642,"type":582},"This caused major disruption to supplies out of Shandong for over six months, and although the weak market conditions meant there was sufficient material in the market at the time, it was a signal of the government’s longer-term policy of consolidation.",{"type":577,"attrs":644,"content":645},{"textAlign":49},[646],{"text":647,"type":582},"Government enforced closures continue to this day in the region and as recently Q2 graphite companies were found to be violating environmental regulations by disposing of tailings into nearby farmland.",{"type":577,"attrs":649,"content":650},{"textAlign":49},[651],{"text":652,"type":582},"This is yet to expose a shortfall in material in the market, but periods of extreme weather alongside unpredictable levels of government intervention, mean disruption in China’s flake graphite market is never far from the surface.",{"type":577,"attrs":654,"content":655},{"textAlign":49},[656],{"text":657,"type":582},"China’s price pressure points In addition to the threat of government restrictions in China’s graphite market, some of the country’s producers have more recently found themselves exposed to weak market prices.",{"type":577,"attrs":659,"content":660},{"textAlign":49},[661],{"text":662,"type":582},"Strong price competition since the start of the year in particular has seen many companies lower their target output, while others find themselves on the brink of closure if low prices continue.",{"type":577,"attrs":664,"content":665},{"textAlign":49},[666],{"text":667,"type":582},"Central to these pricing pressures have been heavily discounted sales offered by producers attempting to improve cashflows.",{"type":577,"attrs":669,"content":670},{"textAlign":49},[671],{"text":672,"type":582},"While cementing China’s current position as the world’s source of flake graphite, these discounts have done little to aide the longer-term prospects of companies which produce lower grade material and rely on spot contracts for the majority of their sales.",{"type":577,"attrs":674,"content":675},{"textAlign":49},[676],{"text":677,"type":582},"China established its position as the graphite market hegemon in the 1980s when a swathe of producers entered the market – offering low cost material to markets around the world.",{"type":577,"attrs":679,"content":680},{"textAlign":49},[681],{"text":682,"type":582},"By pushing higher-cost mines out of the market China established itself as the flake graphite capital of the world.",{"type":577,"attrs":684,"content":685},{"textAlign":49},[686],{"text":687,"type":582},"Today, however, the country finds itself under threat of losing grip on its flake graphite supremacy, with projects in Africa and North America seeking to eat into this market share and domestic resources becoming increasingly depleted.",{"type":577,"attrs":689,"content":690},{"textAlign":49},[691],{"text":692,"type":582},"With Heilongjiang as the country’s main source of raw material and Shandong the centre of its processing, production in the country is being streamlined as a result of both state-led restrictions and market-led pressures.",{"type":577,"attrs":694,"content":695},{"textAlign":49},[696],{"text":697,"type":582},"As this steady course to consolidation continues, a new generation of mines are queuing up to challenge the country’s flake graphite supremacy.",{"type":614,"attrs":699,"content":700},{"level":616,"textAlign":49},[701],{"text":702,"type":582}," Not just a cost game",{"type":577,"attrs":704,"content":705},{"textAlign":49},[706],{"text":707,"type":582},"Central to the competitiveness of prospective graphite companies seeking to enter the market will be production costs.",{"type":577,"attrs":709,"content":710},{"textAlign":49},[711],{"text":712,"type":582},"In a market where excess supplies weigh heavy, cost is often king.",{"type":577,"attrs":714,"content":715},{"textAlign":49},[716],{"text":717,"type":582},"But it is no longer solely on a raw material level that companies have to compete.",{"type":577,"attrs":719,"content":720},{"textAlign":49},[721],{"text":722,"type":582},"Value-added materials remain the major growth sector and represent a part of the market where companies are hurriedly trying to set a marker.",{"type":577,"attrs":724,"content":725},{"textAlign":49},[726],{"text":727,"type":582},"Any new producer to enter the market will have to position itself as a value-added processor rather than simply a low-cost concentrate producer.",{"type":577,"attrs":729,"content":730},{"textAlign":49},[731],{"text":732,"type":582},"So as China seeks to adjust its role in the graphite market in the midst of government restrictions and market forces, expect not only the rules of the graphite game to change, but also its players.",[734],{"slug":565,"name":566,"content":735},{"job_title":568,"image":736,"bio":571,"linkedin":572},{"filename":570},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"d2e0edd3-032c-428b-86f4-5897d6daed0c\", \"id\": \"\"}-->","article",[740,743,746],{"slug":741,"name":742},"batteries","Batteries",{"slug":744,"name":745},"critical-minerals","Critical 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