The constant comparison to SYR is flawed and demonstrates a complete lack of understanding. Graphite is an industrial mineral where flake size and purity determine usage - usage is across many unrelated markets where drivers of demand are not connected. For example, demand for graphite in refractories is not connected to demand for graphite in EV. they are essentially different products. Based on flake size and price economics only around 20% of TONs graphite is likely to go to the EV market so I don't think comparing to SYR is meaningful.
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