Recently, the domestic graphite electrode market has hit a seasonal turning point during the 'Golden September and Silver October' period. With the double boost of downstream steel mills restocking in the peak season and the continuous rise in upstream raw material prices, market prices have seen a concentrated increase. This round saw mainstream graphite electrode prices go up by 800 yuan/ton, officially kicking off the industry’s peak season.
The cost side is the core rigid support behind this price hike. During the previous off-season, prices for key raw materials like needle coke and low-sulfur calcined coke steadily remained strong and gradually increased, putting continuous pressure on graphite electrode production costs.
Needle coke supply is tight but shipments are smooth, combined with the steady demand from anode materials, making raw material prices easy to rise but hard to fall. Calcined coke has also strengthened along with upstream trends, continuously squeezing producer profits. Manufacturers are basically unwilling to sell at low prices now, with strong sentiment to hold prices or push them up, laying a solid foundation for this price rise.
On the demand side, by September, steel demand gradually recovered, finished product inventories steadily decreased, and electric arc furnace steel mills saw improved profits month over month, with production activity noticeably picking up. Domestic electric arc furnace mills are actively restocking and making bulk tender purchases, greatly improving graphite electrode demand compared to before, providing solid support for higher prices. 
Overall, the graphite electrode market has fully moved out of the weak off-season competition pattern. In the short term, high raw material prices continue to support the market, and downstream peak-season restocking keeps releasing demand, warming the bullish sentiment and making the market more resilient. Looking ahead, as demand continues through the 'Golden September and Silver October' period, combined with the rigid support of raw material costs, graphite electrode prices are expected to maintain a steady upward trend, with room for further price increases in the near term.