–News Direct–
Puruvi Poddar, chief of business and corporate development at Tirupati Graphite PLC, joined Proactive's Stephen Gunnion to shed light on the global graphite market's dynamics and the company's strategic position.
The company's shares jumped 25% on Monday on news that China was tightening its grip on supplies, before continuing their rise on Tuesday. Poddar emphasized the critical status of graphite, highlighting its significance as the largest constituent in electric vehicle batteries. She said the recent move by China to implement export controls on graphite has intensified its global demand, given China's dominant position in the supply chain.
Currently, while 70% of natural flake graphite is produced in China, Tirupati Graphite is one of the few companies expanding production outside China, with operations in Madagascar and upcoming ventures in Mozambique.
Poddar revealed that the company aims to capture 8% of global supply by 2030. She also mentioned that the demand for flake graphite is projected to surge, potentially quintupling over the next decade.
On the supply side, Tirupati Graphite has been successful in consistently growing its production, capitalizing on its technological expertise. The firm has also established diversified off-take agreements with companies worldwide, catering to both industrial and energy transition applications. Poddar anticipates a rise in flake graphite prices due to increasing demand and supply bottlenecks.
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View source version on newsdirect.com: https://newsdirect.com/news/tirupati-graphite-rallies-on-chinas-move-to-restrict-exports-378297634
Tirupati Graphite PLC
COMTEX_442369867/2655/2023-10-24T08:13:00