China announced on Friday it will require export permits for certain graphite products to protect national security, according to Reuters. It said it is the latest move to curb shipments of this critical mineral.
The report said the US Geological Survey (USGS) records China as the world’s top graphite producer, accounting for two-thirds of global supply. The USGS said battery end-use market for graphite has soared by 250% globally since 2018, according to the report.
Graphite is the largest EV battery component by weight, with each vehicle on average using 50–100 kg of the material in battery packs for the anodes. China also refines more than 90% of the world’s graphite into battery material.
Estimates from Benchmark Mineral Intelligence said US and European companies have been investing in the development of synthetic graphite. This could account for nearly two thirds of the EV battery anode market by 2025.
China also exports artificial graphite. In the first nine months of 2023, they rose 45% from a year earlier to 424,706 tonnes, customs data showed.
