Global demand for graphite, seen at 770,000 tonnes this year, is expected to treble by 2033, according to estimates by Fastmarkets graphite analyst Georgi Georgiev.
China currently accounts for 64% of the global production of natural graphite and more than half of the artificial equivalent.
More importantly, the People’s Republic refines more than 90% of the graphite into high-purity material used in EV batteries.
This echoes the approach China used earlier this year to restrict exports of gallium and germanium, two metals used in chips and fibre optic cables, triggering a fall in international shipments.
Mining graphite in Europe, which wants to lead in EV adoption, is simply more expensive, says Aiden Lavelle, CEO of miner European Green Metals.
Persons:
Georgi Georgiev, Aiden Lavelle, Carmakers, Una Galani, Streisand Neto
Organizations:
Reuters, People’s, EV, Shanghai Putailai, Energy Technology, Metals, Volkswagen, Thomson
Locations:
HONG KONG, China, Republic, Shanghai, Finland, Sweden, Beijing, Western, Europe, U.S