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Tokai Carbon, a Japan-based graphite electrode manufacturer, has announced a price increase

ICICIdirect Research 17 Jul 2026 DISCLAIMER

News: As per media sources, Tokai Carbon, a Japan-based graphite electrode manufacturer, has announced a price increase of JPY 150,000/tonne (~US$925/tonne) across all graphite electrode sizes for deliveries from October 2026 onwards. 

View: The sharp rise in needle coke prices, the key raw material for graphite electrodes, amid geopolitical tensions in West Asia has put pressure on industry profitability, necessitating price increases. We view this as a positive development for domestic graphite electrode players, which have been facing profitability pressure due to a subdued global pricing environment. The companies are expected to implement price hikes on uncommitted volumes from H2FY27 onwards. Additionally, industry leader GrafTech has also announced graphite electrode price hikes of US$600-1,200/tonne (~15-30%), reinforcing the case for a broader improvement in global pricing. Thus, we view this as a sentimentally positive development for HEG Ltd. and Graphite India.

Impact: Positive

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