The aggressive pricing shift covers all open commercial negotiations and follows a three-year slide in electrode prices coupled with mounting input costs. Chief Executive Timothy Flanagan stated that current price points are unsustainable and fail to support the capital investment needed to maintain reliable, high-quality supply chains for global customers.
In section Market Quotes
GrafTech Shares Jump 17% Following Sharp Electrode Price Hike
Shares of GrafTech International climbed 17% to $7.24 Tuesday morning after the manufacturer announced an immediate 30% price increase for its graphite electrodes. The move signals a pivot for the firm, which has seen its stock value plummet 53% since the beginning of the year amid sustained market volatility.
Prior cost-reduction strategies, including facility idling and workforce cuts, proved insufficient to stabilize the company’s bottom line. This latest hike builds upon a smaller increase implemented in March. The announcement arrives shortly after the company revealed plans to shutter its manufacturing plant in Monterrey, Mexico, citing structural overcapacity that continues to plague the industry.
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