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A soft, conductive form of carbon used in lithium-ion battery anodes, refractories, steelmaking and lubricants. It is either mined (natural graphite) or manufactured (synthetic graphite). China supplies about four-fifths of mined graphite and most battery anode material, and controls exports of both.

Supply risk

Reviewed 11 Oct 2026 · Methodology

High

China dominates graphite and licenses exports; tougher curbs suspended until Nov 2026

Supply concentration (critical) decides the level: China mined about 82% of natural graphite in 2025 and makes over 95% of battery-grade graphite. Export controls and tariffs (both elevated) compound it: China has licensed graphite exports since December 2023, its tougher US review and anode controls are only suspended until November 2026, and the US raised tariffs on Chinese natural graphite in 2026.

Since 1 Jan 2023 · Sources: U.S. Geological Survey, Mercom India, Ministry of Commerce of the People's Republic of China

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Risk drivers

Supply concentrationCritical
China produced an estimated 82% of the world's natural graphite in 2025 (USGS), and the IEA's 2025 outlook found it makes over 95% of battery-grade graphite. Most synthetic graphite is also made in China.Sources: U.S. Geological Survey, Mercom India, International Institute for Sustainable Development
Export controlsElevated
Since 1 Dec 2023 China has required export licences for flake, spherical and expanded natural graphite and high-purity synthetic graphite. Stricter US end-user review (Dec 2024) is suspended until 27 Nov 2026, and controls on artificial graphite anode material announced in Oct 2025 are suspended until 10 Nov 2026; MOFCOM said on 28 Sep 2026 the arrangement behind this runs to 10 Jan 2027.Sources: Ministry of Commerce of the People's Republic of China, Ministry of Commerce of the People's Republic of China, Ministry of Commerce of the People's Republic of China, Fastmarkets, Ministry of Commerce of the People's Republic of China
Policy & tariffsElevated
US Section 301 tariffs on Chinese natural graphite rose to 25% in 2026, under modifications finalised in Sept 2024. The US Commerce Department made final antidumping and countervailing duty findings on Chinese active anode material on 11 Feb 2026, but the ITC voted negative on 12 Mar 2026 (determinations issued 31 Mar), so no orders were issued.Sources: Federal Register, International Trade Administration, U.S. Department of Commerce, Solar Power World, Federal Register
Operational disruptionLow
No significant outage was identified in the 12 months to October 2026. Syrah's Balama mine in Mozambique, idle from late 2024 because of unrest, lifted force majeure and resumed shipments at the end of July 2025.Source: Mining Weekly
Demand shockModerate
Battery demand is driving strong growth in high-quality graphite. US imports of graphite anode material reached 43,400 t in the first eight months of 2025, up from 28,100 t a year earlier. China's spherical graphite exports rose 29% in the first nine months of 2025, so growth has been met.Sources: U.S. Geological Survey, International Institute for Sustainable Development

A supply-availability rating, not a price forecast or investment view. Export-control information is factual and is not legal advice.

Trade flows

2024 · HS 2504

Natural graphite

Recorded world imports: 462,517 t · $608M

Top exporters

  1. China37%173,410 t · $304M
  2. Madagascar17%79,023 t · $62.9M
  3. Mozambique16%74,621 t · $43.3M
  4. Tanzania7%31,000 t · $17.1M
  5. Germany3%15,067 t · $38.6M
  6. Canada3%13,432 t · $18.8M
  7. Norway2%10,922 t · $10.7M
  8. Brazil2%10,771 t · $21.8M
  9. Mexico2%8,359 t · $6.76M
  10. United States2%7,758 t · $17.5M

Top importers

  1. United States16%74,092 t · $149M
  2. India14%66,114 t · $43.2M
  3. Germany12%54,517 t · $70.8M
  4. China11%52,140 t · $32.3M
  5. Japan10%44,343 t · $61.5M
  6. South Korea6%29,401 t · $45.1M
  7. Austria4%16,571 t · $16.4M
  8. Indonesia3%15,381 t · $13.3M
  9. Türkiye3%13,665 t · $14.9M
  10. Poland3%13,588 t · $40M

Largest routes

  1. China→Japan39,492 t · $53.6M
  2. China→United States35,717 t · $100M
  3. China→South Korea28,599 t · $41.9M
  4. Madagascar→India27,141 t · $18.9M
  5. Tanzania→China25,340 t · $13.6M

Source: UN Comtrade, imports reported by 125 countries for 2024. Exporters are ranked by what importing countries recorded (mirror data), so countries that do not report their own exports are still counted. Values are in US dollars including freight and insurance. Weights are product weight. Recent years can be incomplete, and unrecorded trade is not included.

Overview

Graphite is a form of carbon. It is black, shiny and soft, and is used in pencils, electric-motor brushes and furnace linings.1 It conducts heat and electricity well, withstands very high temperatures and cleaves easily along its layers.2

There are two supply chains. Natural graphite is mined from deposits. Synthetic graphite is manufactured by heating carbon-rich such as petroleum coke and coal-tar pitch to very high temperatures. Synthetic graphite can be purer and more consistent, while natural graphite generally needs less energy to produce. In 2023 natural graphite supplied only about one-third of the roughly 5.2 million t of graphite consumed worldwide. Most of the rest was synthetic graphite made in China.2

Demand for batteries has sharply increased demand for high-quality graphite, both natural and synthetic.2 Graphite is on the 2025 US List of , and natural graphite is an EU strategic raw material.34

Where it comes from

Natural graphite occurs as flake, amorphous and vein (lump) graphite. Flake is the most common and the type mainly used in batteries. Amorphous graphite goes mostly into industrial uses, and vein graphite is rare and reserved for specialized uses.2

China produced an estimated 82% of the world's natural graphite in 2025, most of it crystalline flake. Supply from Africa and Brazil is growing. Tanzania more than doubled its output to 75,000 t in 2025, and in Mozambique the Balama mine restarted in June 2025 after a suspension that began in late 2024.5

Natural graphite mine production by country2025 (est.) · world 1,800,000 t
  • China78%
  • Madagascar4%
  • Tanzania4%
  • Brazil4%
  • Mozambique3%
  • Russia1%
  • India<1%
  • Other countries2%

Country figures sum to 1,752,880 t; USGS rounds the world total to 1.8 million t. Synthetic graphite is not included. Source: Mineral Commodity Summaries 2026: Graphite (Natural)

Battery need graphite that has been purified and shaped into spherical particles. China exported 37,400 t of spherical purified graphite (SPG) in the first nine months of 2025, 29% more than a year earlier. Korea and Indonesia were the main destinations. A Chinese company began SPG production in Central Java, Indonesia, and Chinese companies were developing or considering SPG plants in Finland, Malaysia, Morocco, Oman and Sweden.5

World outside the United States exceed 800 million t of recoverable graphite.5

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What it is used for

Once processed, natural graphite is used mainly in battery anodes and in for steelmaking and foundries. Anode makers increasingly favor synthetic graphite, but purified natural graphite is also used for its conductivity.2 Other uses include brake linings, lubricants, powdered metals and some defense-related materials.5

Grades and forms

Natural graphite is sold by type, flake size and carbon content. Battery-grade material is upgraded through micronizing, rounding, purification and coating. Synthetic graphite follows a separate route from coke and pitch.2 China's distinguish spherical and expanded natural graphite and , high-strength, high-density synthetic graphite.6

Flake graphite concentrate

Crystalline flake graphite recovered by flotation, sold by flake size and carbon content; the feed for battery anode material.

Amorphous graphite

Microcrystalline natural graphite with lower carbon content, used mainly in refractories, steelmaking and other industrial products.

Lump (vein) graphite

Rare, high-purity natural graphite mined commercially in Sri Lanka.

Spherical purified graphite (SPG)

Flake graphite that has been micronized, rounded and purified for use in battery anodes, usually coated before use.

Synthetic graphite

Manufactured by heating petroleum coke or coal-tar pitch to very high temperatures; used in anodes and electric arc furnace electrodes.

Expanded graphite

Flake graphite treated so that it expands on heating, used for foils, seals and fire retardants.

Trade and policy

The United States has not mined natural graphite since 1989 and imported about 79,000 t in 2025, 73% of it flake and high-purity graphite. China (46%), Canada (13%), Mozambique (13%) and Mexico (12%) were the main sources in 2021–24. US imports of graphite battery anode material reached 43,400 t in the first eight months of 2025, up from 28,100 t a year earlier.5

DateEvent
20 Oct 2023China announces export controls, effective 1 December 2023, on high-purity, high-strength and high-density synthetic graphite and on natural flake graphite and its products, including spherical and expanded graphite. Older controls on other graphite items are lifted.6
3 Dec 2024China orders stricter end-user and end-use reviews for graphite exports to the United States.7
9 Oct 2025China announces controls, due from 8 November 2025, on artificial and mixed graphite anode materials and on anode production equipment and technology.8
7 Nov 2025China suspends the October 2025 anode controls until 10 November 2026.9
9 Nov 2025China suspends the stricter US-specific graphite review until 27 November 2026.10
11 Feb 2026The US Commerce Department issues final affirmative antidumping and countervailing duty determinations on active anode material from China.11
12 Mar 2026The US International Trade Commission votes in the negative, so no duty orders are issued.12

The November 2025 suspension did not cover the graphite controls introduced by Announcement No. 39 of 2023.69

This section is factual background, not legal or trade-compliance advice.

Recycling and substitution

Graphite is limited. Global recycling rates are estimated at only about 1–3%.2 Refractory bricks and linings are increasingly recycled into products such as brake linings and thermal insulation.5

Synthetic graphite competes with natural graphite in batteries and in iron and steel production, as do calcined petroleum coke and from machined graphite shapes. Molybdenum disulfide can replace graphite as a dry lubricant.5

Sources

  1. Carbon: element information, properties and uses. Royal Society of Chemistry, accessed 2026-10-03. ↩

  2. Commodity profile: Natural graphite. International Institute for Sustainable Development, accessed 2026-10-03. ↩ ↩2 ↩3 ↩4 ↩5 ↩6 ↩7

  3. Final 2025 List of Critical Minerals. Federal Register, accessed 2026-10-03. ↩

  4. EU critical raw materials. European Commission, Joint Research Centre (RMIS), accessed 2026-10-03. ↩

  5. Mineral Commodity Summaries 2026: Graphite (Natural). U.S. Geological Survey, accessed 2026-10-03. ↩ ↩2 ↩3 ↩4 ↩5 ↩6 ↩7

  6. MOFCOM and GAC Announcement No. 39 of 2023 on optimizing and adjusting temporary export control measures for graphite items. Ministry of Commerce of the People's Republic of China, accessed 2026-10-03. ↩ ↩2 ↩3

  7. MOFCOM Announcement No. 46 of 2024 on strengthening export controls on related dual-use items to the United States. Ministry of Commerce of the People's Republic of China, accessed 2026-10-03. ↩

  8. MOFCOM and GAC Announcement No. 58 of 2025 on export controls on lithium batteries and artificial graphite anode materials. Ministry of Commerce of the People's Republic of China, accessed 2026-10-03. ↩

  9. MOFCOM and GAC Announcement No. 70 of 2025 suspending Announcements Nos. 55–58 of 2025. Ministry of Commerce of the People's Republic of China, accessed 2026-10-03. ↩ ↩2

  10. MOFCOM Announcement No. 72 of 2025 on adjusting the implementation of Announcement No. 46 of 2024. Ministry of Commerce of the People's Republic of China, accessed 2026-10-03. ↩

  11. Final affirmative determinations in the antidumping and countervailing duty investigations of active anode material from China. International Trade Administration, U.S. Department of Commerce, accessed 2026-10-03. ↩

  12. US says China is not pricing out American battery anode makers. Solar Power World, accessed 2026-10-03. ↩

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