A native element mineral that’s both a form of coal and the most stable form of carbon, graphite is known to be a dry lubricant. As the only non-metal element that’s a good conductor of electricity, it can be used in lithium-ion batteries, as well as in nuclear reactors and the refractory and steel industries. Much like other battery raw materials, graphite pricing can be finicky since it’s not traded on an exchange. In general, prices have come under pressure in early 2023 due to excess supply, and producers outside China have had to make production cuts to deal with this environment. In the long term, graphite demand is expected to become more dominated by the battery sector, although it’s worth noting that not all types of graphite can be used in this industry. Click here to read more about graphite investing