Strong demand, strong supply: Anode & Graphite Q1 2026 Price Review

The anode active material (AAM) market, across both natural and synthetic chemistries, remained broadly stable throughout Q1 2026. Firm downstream demand, particularly from the energy storage sector, was offset by continued structural oversupply and stronger buyer leverage. Benchmark data shows that medium capacity synthetic graphite AAM prices rose ~1% between mid-January and mid-March, whilst all other grades remained stable over the same period.