UK's Tirupati Graphite rises, sees positive implication from China's export curbs
23/10/2023 08:45
** Shares of graphite miner Tirupati Graphite TGRT.L rise
21.4% to 17p
** Co expects the combination of increasing demand and
supply shortfalls, alongside China's export restrictions, to
have a positive impact on graphite prices, which have fallen
since the start of 2023, it said in a statement
** Expects that ex-China consumers of flake graphite in
energy transition sectors and others shall progress their
efforts to secure ex-China supply sources to mitigate increasing
geopolitical risk surrounding it and other critical minerals
** The implications of China's export restrictions are
positive for Tirupati both in terms of the likely impact on
prices, and on the long-term demand for our product given our
position as one of the few Graphite producers outside of China -
Shishir Poddar, Executive Chairman
** TGRT down 58.8% YTD, as of last close
(Reporting by Meenakshi Maidas in Bengaluru)
((meenakshi.maidas@thomsonreuters.com;))