Graphite related stocks like HEG, Graphite India rose to 9 percent in day's trade, after a strong commentary by Graftech-world's largest producer of graphite electrodes. The company stated that steel industry decarbonization to aid electrode industry and the electrode demand to increase due to higher demand for electric arc furnace. Europe has been severely hit by the Russo-Ukraine conflict and conversely, the US steel market has been more resilient, evident from higher utilization levels. Graftech had missed Q2 sales estimates, where the net sales went up 10% at $364mn. China electrode prices snapped 15-Week losing Streak, rising 1.4% in last week of September.
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