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Mid-Nickel",103.5,99.73,3.78,13.78,6.78,[518,519,520,522,524,526,528,530,532,534,536,538],{"date":213,"value":512},{"date":216,"value":513},{"date":219,"value":521},99.19,{"date":222,"value":523},96.02,{"date":225,"value":525},98.23,{"date":467,"value":527},99.24,{"date":329,"value":529},101.29,{"date":339,"value":531},87.61,{"date":341,"value":533},92.44,{"date":344,"value":535},90.96,{"date":347,"value":537},92.24,{"date":350,"value":539},95.09,{"id":541,"uuid":542,"name":543,"slug":544,"full_slug":545,"content":546,"relatedArticles":712,"relatedVideos":713},112469608428945,"739566b5-018c-40f5-8fb3-cbf42a3e6f8e","Graphite FEOC sourcing extension supports US battery expansion but highlights China’s dominance","graphite-feoc-sourcing-extension-supports-us-battery-expansion-but-highlights-chinas-dominance","article/graphite-feoc-sourcing-extension-supports-us-battery-expansion-but-highlights-chinas-dominance",{"_uid":547,"date":548,"tags":549,"editor":565,"content":575,"excerpt":690,"featured":51,"reporter":691,"_editable":695,"component":696,"seo_title":543,"categories":697,"visibility":704,"author_company":49,"featured_image":705,"seo_description":690,"author_full_name":49,"author_job_title":49,"formattedDate":710,"formattedArticleDate":711},"b3198087-8cf8-4745-89af-56cb01ef08a0","2024-05-08 00:00",[550,553,556,559,562],{"slug":551,"name":552},"china","China",{"slug":554,"name":555},"inflation-reduction-act","Inflation Reduction Act",{"slug":557,"name":558},"north-america","North America",{"slug":560,"name":561},"us","US",{"slug":563,"name":564},"policy","Policy",[566],{"slug":567,"name":568,"content":569},"didi-bostock","Didi Bostock",{"job_title":570,"image":571,"bio":573,"linkedin":574},"Editor - Energy Transition & Economics",{"filename":572},"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":576,"content":577},"doc",[578,585,590,595,610,615,622,627,632,637,642,647,658,680,685],{"type":579,"attrs":580,"content":581},"paragraph",{"textAlign":49},[582],{"text":583,"type":584},"Following mounting pressure from battery supply chain players, the US government has provided an extension on the use of Chinese graphite in batteries to qualify for electric vehicle (EV) tax credits.  ","text",{"type":579,"attrs":586,"content":587},{"textAlign":49},[588],{"text":589,"type":584},"Automakers and OEMs will now have until 2027 to meet the Foreign Entities of Concern (FEOC) requirements under the Inflation Reduction Act when it comes to certain critical minerals. Graphite will be categorised as an “impracticable-to-trace” mineral, giving it a temporary exemption from FEOC compliance for two years. ",{"type":579,"attrs":591,"content":592},{"textAlign":49},[593],{"text":594,"type":584},"“It may prove challenging for ex-China anode aspirants to build out sufficient regional supply to meet the surging downstream demand without some level of Chinese involvement in overseas projects, or continued imports from the country,” said Tony Alderson, an analyst at Benchmark.",{"type":579,"attrs":596,"content":597},{"textAlign":49},[598,600,608],{"text":599,"type":584},"China is expected to produce 72% of global natural graphite supply in 2024, and 98% of the uncoated spherical graphite (USPG) output, according to ",{"text":601,"type":584,"marks":602},"Benchmark’s Natural Graphite Forecast",[603],{"type":604,"attrs":605},"link",{"href":606,"uuid":49,"anchor":49,"target":49,"linktype":607},"https://www.benchmarkminerals.com/forecasts/natural-graphite/reports/","url",{"text":609,"type":584},". ",{"type":579,"attrs":611,"content":612},{"textAlign":49},[613],{"text":614,"type":584},"China is also dominant in synthetic graphite production – the country is expected to account for 54% of needle coke supply in 2024 and 77% of synthetic graphite supply – with its market share set to grow in the coming years.",{"type":616,"attrs":617,"content":619},"heading",{"level":618,"textAlign":49},4,[620],{"text":621,"type":584},"What has happened?",{"type":579,"attrs":623,"content":624},{"textAlign":49},[625],{"text":626,"type":584},"The US government’s policy on graphite had been under pressure from both domestic miners and overseas OEMs due to China’s dominance in the market.",{"type":579,"attrs":628,"content":629},{"textAlign":49},[630],{"text":631,"type":584},"North American graphite miners were pressing for a tariff on Chinese graphite imports to help them compete. Simultaneously, OEMs were concerned they would be unable to qualify for IRA subsidies without an exemption for Chinese graphite.",{"type":579,"attrs":633,"content":634},{"textAlign":49},[635],{"text":636,"type":584},"“The Treasury rules appear to recognize the realities of the global supply chain by providing some temporary flexibility in terms of where the critical minerals in EV batteries can be sourced. That’s helpful as more automotive supply chains and battery production are localised to the US and our allies,” John Bozzella, president and CEO of Alliance for Automotive Innovation, said.",{"type":616,"attrs":638,"content":639},{"level":618,"textAlign":49},[640],{"text":641,"type":584},"The North American graphite market",{"type":579,"attrs":643,"content":644},{"textAlign":49},[645],{"text":646,"type":584},"North America is currently a net importer of natural graphite and USPG. The US in particular is expected to add more USPG capacity towards the end of the decade, but will need to rely on imports of natural flake graphite due to the lack of domestic production. ",{"type":579,"attrs":648,"content":649},{"textAlign":49},[650,652,656],{"text":651,"type":584},"In 2023, North America produced 5,000 tonnes of natural graphite, all of which came from the Lac des Illes mine in Canada, according to ",{"text":601,"type":584,"marks":653},[654],{"type":604,"attrs":655},{"href":606,"uuid":49,"anchor":49,"target":49,"linktype":607},{"text":657,"type":584},".",{"type":579,"attrs":659,"content":660},{"textAlign":49},[661,666,670,677],{"text":662,"type":584,"marks":663},"Watch Benchmark’s Head of Prices Daisy Jennings-Gray discuss North America’s anode supply chain.",[664],{"type":665},"italic",{"text":667,"type":584,"marks":668},"Watch more analyst insight videos ",[669],{"type":665},{"text":671,"type":584,"marks":672},"here",[673,676],{"type":604,"attrs":674},{"href":675,"uuid":49,"anchor":49,"target":49,"linktype":607},"https://source.benchmarkminerals.com/search/tag/analyst-insights?items_per_page=12&page_offset=0&tags[]=analyst-insights",{"type":665},{"text":657,"type":584,"marks":678},[679],{"type":665},{"type":579,"attrs":681,"content":682},{"textAlign":49},[683],{"text":684,"type":584},"China was responsible for nearly 100% of global USPG in 2023 while North America had no production last year. Syrah Resources’ Vidalia project has since started production in Louisiana, with an initial production capacity of 11,250 tonnes per year of anode active materials. ",{"type":579,"attrs":686,"content":687},{"textAlign":49},[688],{"text":689,"type":584},"“Despite ongoing capacity announcements in the North American market, including projects affiliated with Chinese entities, it remains insufficient to meet the projected regional demand. The Benchmark Anode Forecast expects a supply-demand deficit exceeding 700,000 tonnes per year by the end of the decade,” said Alderson.","Following mounting pressure from battery supply chain players, the US government has provided an extension on the use of Chinese graphite in batteries to qualify for electric vehicle (EV) tax credits. Automakers and OEMs will now have until 2027 to meet the Foreign Entities of Concern (FEOC) requirements under the Inflation Reduction Act when it […]",[692],{"slug":567,"name":568,"content":693},{"job_title":570,"image":694,"bio":573,"linkedin":574},{"filename":572},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"b3198087-8cf8-4745-89af-56cb01ef08a0\", \"id\": \"\"}-->","article",[698,701],{"slug":699,"name":700},"critical-minerals","Critical Minerals",{"slug":702,"name":703},"graphite","Graphite","private",{"id":49,"alt":706,"name":706,"focus":706,"title":706,"source":706,"filename":707,"copyright":706,"fieldtype":708,"meta_data":709,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/bf16818807/bm-graphitepicture-1318295eca12.jpg","asset",{"alt":706,"title":706,"source":706,"copyright":706},"May 08, 2024","8th May 2024",[],[],1783529647714]