NOVONIX Applauds ITC Ruling On China's Graphite Export Practices

(RTTNews) - NOVONIX Limited (NVX, NVX.AX) commends today's preliminary ruling by the International Trade Commission (ITC) regarding China's suppression of the domestic graphite industry through the export of artificially cheap graphite to the United States. This follows the December 19, 2024 announcement by the American Active Anode Material Producers (AAAMP), which includes NOVONIX, to have the ITC and the U.S. Department of Commerce investigate China's export practices. The investigation focused on whether China is exporting natural and synthetic graphite, essential for lithium-ion battery anode material, at unfair prices to the U.S., with import tariffs being sought as a remedy.

Robert Long, Interim CEO of NOVONIX, said, Chinas strategic efforts to control the global critical minerals supply chain, fueled by massive government subsidies with the clear intent of suppressing fair competition, are a threat to U.S. energy and national security. The ITCs ruling represents an important step towards leveling the playing field for U.S. critical minerals producers and bringing transparency to the global marketplace. This will protect companies like NOVONIX from unfair predatory pricing practises by Chinese producers.

With the ITC's preliminary determination in place, the case will concurrently advance before both the Commerce department and the ITC under U.S. antidumping and countervailing duty (AD/CVD) statutes. If the investigation confirm the allegations, the Commerce Department will impose additional tariffs to counteract the extent of China's unfair pricing practices. Presently, China holds over 95% of the market share for battery-grade graphite.