Graphite electrode prices remain stable amid steady steel demand, says HEG’s Manish Gulati
CNBC Tv18 – 11 Nov 2025
Manish Gulati, Executive Director of HEG, said graphite electrode prices have remained stable for the past two quarters, driven by steady demand trends and a balanced market. “Prices have been quite flattish between the April-June quarter of 2025 (Q1FY26) and the July-September quarter of 2025 (Q2FY26),” he said, adding that the stability reflects current conditions in global steel production, which has seen a marginal 1.5% decline this year.
Gulati expects a demand recovery in the coming quarters as steel production picks up, especially from electric arc furnaces (EAFs), which are key consumers of graphite electrodes. He stated that around 11–12 new EAFs are under construction, adding nearly 20 million metric tonne of steel capacity over the next 12–18 months, which should boost future demand.
Addressing global trade challenges, Gulati said the impact of the US tariff on graphite electrodes remains manageable. HEG exports to about 35 countries, including Europe, the Middle East, and Southeast Asia, with the US accounting for 10–12% of total sales, helping the company stay resilient despite tariff-related headwinds.