Domestic Production and Use: In 2023, natural graphite was not produced in the United States; however, approximately 95 companies, primarily in the Great Lakes and Northeast regions, consumed 76,000 tons valued at an estimated $180 million. The major uses of natural graphite were batteries, brake linings, lubricants, powdered metals, refractory applications, and steelmaking. During 2023, U.S. natural graphite imports were an estimated 84,000 tons, consisting of about 89.3% flake and high-purity, 10.4% amorphous, and 0.3% lump and chip graphite.
Graphite consumption is expected to continue to increase, owing largely to growth from the lithium-ion battery market. According to Benchmark Mineral Intelligence, global graphite consumption by the battery market has increased by 200% since 2019. The number of lithium-ion battery manufacturing facilities in the United States increased to 10 in 2023 from 3 in operation during 2019. An additional 28 facilities were under development.
SYR Price at posting:
36.0¢ Sentiment: Hold Disclosure: Held
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