GrafTech announces graphite electrode price increase

Brooklyn Heights, Ohio--(Business Wire)--GrafTech International Ltd. (NYSE: EAF) ("GrafTech," the "Company," "we" or "our") today announced that it has informed customers of a graphite electrode price increase of at least $600 to $1,200 per metric ton, depending on the region, effective immediately.

Over the past three years, the market prices for graphite electrodes have declined significantly across each of our key regions and remain below sustainable levels necessary to support ongoing investment and provide reliable long-term supply to customers. In addition, current geopolitical developments are driving increases in our key input costs, including oil-based raw materials, energy, and logistics.

GrafTech has implemented a number of strategic initiatives to structurally improve our cost position and operational efficiency. Despite these efforts, our pricing requires adjustment. This price increase is a necessary step to restore GrafTech product pricing to levels we expect will ensure continuity of our regional graphite electrode production and customer supply.

Timothy Flanagan, Chief Executive Officer and President, stated, "After prolonged pricing pressure combined with rising input costs, resetting graphite electrode prices is necessary. While we have taken significant measures to improve our cost structure, this price increase supports reliable supply to customers, long-term sustainability of our operations, and the creation of shareholder value."

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