Syrah Resources, a struggling graphite miner, joins other industry players in demanding a US government investigation into alleged Chinese graphite dumping in North America. They aim to force the US to impose higher tariffs on Chinese graphite anode active material (AAM) to protect prices. Syrah believes China's overcapacity strategy is causing unfair competition and harming the global graphite market.
Battling graphite miner Syrah Resources has joined several others in the sector in calling for the US government to investigate the alleged 'dumping' of certain graphite products by China into North America to artificially drive prices down. The miner and others want to see the US impose extra tariffs on Chinese graphite anode active material (AAM) products to keep prices competitive.
Market conditions for graphite producers have been 'terrible' of late, in the words of Syrah GM business development and investor relations Viren Hira, but the company seems adamant it's not just due to regular demand and supply cycles. Syrah in September said China had been pursuing a capacity expansion and oversupply strategy for the material, leading to 'relentless' price declines in the synthetic graphite AAM industry that could not be offset by still-robust prices of coarse flake graphite. While Beijing's planned tighter control on graphite sales flagged at the start of December offer some hope, Syrah is now formalising its calls for more US government support. 'It is apparent that China is employing an overcapacity strategy in synthetic graphite AAM resulting in suppliers from China selling graphite AAM into the United States battery market at unfair prices in some cases underpinned by support from the Chinese Government,' Syrah reiterated in a statement to investors on Thursday. 'These actions are creating significant challenges for ex-China natural graphite and AAM companies and denying such companies a fair opportunity to compete for graphite AAM sales and invest in further expansion of AAM production capacity in the United States.' The US has already taken some recent measures to stem the damage, reinstating a 25% tariff on natural and synthetic graphite AAM imported from China from June and increasing tariffs to 25% on natural graphite flake and uncoated graphite power produced from the start of 202
Graphite China US Tariffs Anti-Dumping Competition
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
London-listed news in briefRome Resources, Sovereign Metals, Ferro-Alloy Resources, European Green Transition
Read more »
London-listed news in briefKavango Resources, Aterian, Critical Mineral Resources
Read more »
London-listed news in briefMkango Resources, Metals Exploration, Kavango Resources, Thor Energy
Read more »
London-listed news in briefCritical Mineral Resources, Panthera Resources, Bradda Head Lithium
Read more »
Rarely seen 90s sitcom star surprises diners as she’s spotted at restaurant 31 years after sitcom ended...Hyacinth Bucket takes calls for the local Chinese takeaway
Read more »
Suella Braverman leads calls for identity of 'Chinese spy’ linked to Prince Andrew to be revealedSuella Braverman, the former Home Secretary, is leadng calls for the alleged Chinese spy, described as a “close confidant” of the Duke of York, to lose his anonymity.
Read more »