Commodity
Graphite
Graphite is the anode material in almost every lithium-ion battery, which means battery demand pulls on it just as hard as it pulls on lithium, with far less attention paid.
Price
Annual reference price
2025, estimatedNot a live price. Annual average unit value of US imports, at foreign ports, published once a year. Use it for scale and direction, not as today's price.
| Year | Price, USD/t | Against the highest year shown |
|---|---|---|
| 2021 | 1,330.00 | |
| 2022 | 1,200.00 | |
| 2023 | 1,080.00 | |
| 2024 | 1,050.00 | |
| 2025e | 1,000.00 |
Source: U.S. Geological Survey, Mineral Commodity Summaries 2026. Checked 13 September 2026.
What it is used for
- Battery anodes
- Refractories for steelmaking
- Foundry and crucible applications
- Lubricants
- Brake linings
Supply
Natural flake graphite must be upgraded to spherical purified graphite before it can go into a battery, and that processing step has been overwhelmingly concentrated in China.
Principal producing countries: China, Mozambique, Madagascar, Brazil, Tanzania.
Producer list from United States Geological Survey, Mineral Commodity Summaries, checked 10 September 2026.