Ningbo Shanshan, one of China’s two largest anode producers, has confirmed that prices on some of its anode products have already been raised. The confirmation came in a written reply to an investor on the Shanghai Stock Exchange’s e-interaction platform on the evening of 9 September.
Shanshan is the second top-tier producer to confirm increases publicly, after Zhongke Electric, ranked third in China by shipments, indicated in June that its own increases had gone through.
Anode has been the most persistently oversupplied segment of the lithium-ion materials chain, with mid-grade artificial graphite bottoming at ~US$3,300/t in late 2025. Confirmation from two of the top three producers that contracted prices have moved higher, alongside rising graphitisation tolling rates, is the clearest signal yet that the pricing floor is in.
The Announcement
Asked whether Shanshan had raised anode prices as Zhongke Electric had, the company replied (translated from Chinese):
The company’s anode materials business is actively holding discussions with downstream customers, and prices on some anode products have already been raised. Ningbo Shanshan, reply on the SSE e-interaction platform, 9 September 2026 (GraphiteHub translation)
The company did not disclose the size of the increases, the products affected or the customers involved.
Where Prices Stand
According to industry publication 石墨时讯 (Graphite News), the sector completed its first substantive round of increases in May 2026. Low-end power anode was raised by ~US$150 to 300/t to ~US$2,700 to 3,500/t, and high-end 3C consumer anode by ~US$300 to 450/t to ~US$6,700 to 11,600/t. By June, mid-grade artificial graphite had recovered to ~US$3,800 to 5,100/t, nearly 30% above the late-2025 trough.
| Product grade | Late-2025 low (US$/t) | June 2026 (US$/t) | Change |
|---|---|---|---|
| Low-end artificial graphite | ~2,700 | 3,000 to 3,800 | +10 to 15% |
| Mid-grade artificial graphite | ~3,300 | 3,800 to 5,100 | +16 to 27% |
| High-end power anode | ~4,500 | 4,700 to 5,400 | +5 to 10% |
| High-end consumer (3C) anode | ~6,400 | 6,700 to 11,600 | +5 to 12% |
Source: 石墨时讯 (Graphite News), September 2026. Indicative Chinese domestic market ranges, converted from RMB at 6.71 (Xe, 11 September 2026); percentage changes as stated by the publication.
The publication also reported that graphitisation tolling prices have continued to rise, with the latest round adding ~US$45/t at the low end. Box furnace tolling is quoted at ~US$1,330 to 1,570/t and Acheson furnace tolling at ~US$1,570 to 2,010/t. With global anode output expected to exceed 4 million tonnes this year, graphitisation capacity is running near full utilisation with limited new supply.
Background
Ningbo Shanshan, listed on the Shanghai Stock Exchange under 600884, produces lithium-ion battery anode materials through Shanghai Shanshan Technology alongside a polariser business. Its anode customers include CATL, BYD, LG Energy Solution, ATL, Ultium Cells and EVE Energy, and it operates integrated bases in Sichuan and Yunnan with in-house graphitisation.
Zhongke Electric, through subsidiary Zhongke Xingcheng, ranked third in Chinese anode shipments in 2025 according to EVTank and is building a 200,000 tpa anode base in Sohar, Oman.
Price levels cited above are as reported by third-party industry sources and have not been independently verified by GraphiteHub. Actual transaction prices vary by product specification, volume and customer.
Primary source: Ningbo Shanshan Co., Ltd., reply to investor question on the Shanghai Stock Exchange e-interaction platform (上证e互动), 9 September 2026 — sns.sseinfo.com.
Supporting references:
• 石墨时讯 (Graphite News), “两家负极头部企业产品涨价” (Two leading anode producers raise product prices), WeChat, September 2026 — view article
• Zhongke Electric investor communications on anode price increases, June 2026.
• EVTank, 2025 China anode materials shipment rankings.
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