The European Commission's anti-dumping investigation into Chinese graphite electrodes sales into Europe has sparked a rush for material with market participants making plans in case duties are imposed, according to graphite electrode consultants GES.
Since the EC declared on February 17 it was
investigating whether Chinese graphite electrodes producers had broken anti-dumping rules, steel mills have sought to acquire electrodes and avoid any imposition of additional duties.
The rush for material among some buyers has left electrodes producers short of material or making offers for only a very short timeframe.
"It is not easy to determine price levels because they are changing almost every day - no one wants to give a binding offer," Benjamin Sarkoezy, an analyst at graphite electrodes consultant GES, told Fastmarkets on March 10. "The anti-dumping initiative is behind the moves, it is not a result of normal market behavior."
Concern about the potential imposition of a duty on electrodes at an unknown level has incentivized some buyers to bring their electrode purchases forward.
"Overall we don't expect demand to be particularly different this year but everyone is trying to get...