Graphite is not a homogenous commodity; it occurs naturally in 3 forms:
 |
Highest Price, Lowest Supply
High Purity: 85%-98% carbon |
|
Least graphitic of the three
Lower Purity: 60%-90% carbon |
Uncommon & highly localized;
<1% of world production;
Marginal applications |
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Flake size and purity directly affects the price
Natural medium/large flake graphite forecasted between $1,750 and $2,000/t
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Flake Graphite:
Widest range of end uses
Increasing demand for high purity flake graphite
No substitute:
- Synthetic graphite has high purity but is 4x the cost
- Synthetic graphite ($7,000-20,000/t)*
- Natural flake ($2,000-3,000/t)*
Flake graphite used in batteries - not amorphous
* Source: Comark Securities