According to customs data, China's graphite electrode exports in October 2024 totaled 22,500 tons, representing a month-on-month decrease of 14.50% and a year-on-year decrease of 0.25%. Following the month-on-month decline in September, October saw an even larger decrease, reflecting a weakened export market recently.
The main reason for the decline in exports can be attributed to weaker-than-expected overseas demand.
On one hand, frequent geopolitical conflicts globally have increased uncertainty in international markets. Many overseas buyers have become more cautious, reducing procurement plans, which has led to a marginal decline in China's graphite electrode export demand.
On the other hand, historical data shows that October tends to be a month of declining exports on a month-on-month basis, due to seasonal factors and the purchasing cycles of international markets.
However, in the broader context, China's graphite electrode exports from January to October 2024 reached 248,500 tons, which is essentially flat compared to the same period last year, with a slight increase of 0.09%.
By country, Russia, Iran, and Turkey ranked as the top three destinations for China's graphite electrode exports.
Additionally, traditional export markets such as Mexico, the UAE, South Korea, and India also showed varying degrees of demand decline.
Despite these recent challenges, China's graphite electrode exports have remained relatively stable. The slowdown in export growth for October is considered a temporary phase. Based on baseline data and high-frequency analysis, there is a solid foundation for further recovery in China's graphite electrode export growth for November and December, with year-on-year growth expected to turn positive.
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