SYR, RNU, QGL: Look at the performance of these ASX Graphite stocks

Image Source: © Bwylezich| Megapixl.com

Highlights

  • Demand for Graphite is expected to grow to meet the demands of the rapidly expanding EV industry.
  • China, Brazil, Mozambique, Russia, Madagascar, and Ukraine are the top Graphite producing countries in the world.
  • The S&P/ASX 200 Materials (Sector) XMJ was up 1.661% at 17624.600 points at 3:44 PM AEST today.

With the growing demand for electric vehicles (EVs), there is also an increase in demand for raw materials required to make the batteries used in the EVs. We know that Lithium is the most important element used in electric vehicle battery manufacturing. Lithium-ion batteries mostly use graphite anodes as they adjust well with the flow of lithium ions while charging and discharging.

Automotive batteries contain lithium, Graphite, cobalt, nickel, copper, and aluminium as components.

It is expected that the demand for Graphite will increase manifold in the near future in order to meet the demands of the growing EV industry. Besides, because of its high tolerance to heat & unchangeability, Graphite finds its use in the manufacturing industry as it helps in the production of steel, glass, and the processing of iron. 

Notably, no standard price index exists that quotes the spot price for Graphite and the price of Graphite is determined by actual transactions happening between buyers and sellers. 

China, Brazil, Mozambique, Russia, Madagascar, and Ukraine are the top Graphite producing countries in the world. Let’s take a look at three ASX-listed Graphite stocks which have garnered investors’ attention in the recent past. The three ASX-listed stocks include- Quantum Graphite Limited (ASX:QGL), Renascor Resources Limited (ASX:RNU), and Syrah Resources Limited (ASX:SYR). 

Quantum Graphite Limited (ASX:QGL)

The shares of Quantum Graphite Limited traded 2.380% higher at AU$0.430 per share on ASX at 2:07 PM AEST today. The company has a market capitalisation of AU$123.06 million. In the last one year, the company’s shares have gained 168.75%. Meanwhile, the shares of Quantum Graphite Limited are also up 168.75% year-to-date (YTD). Recently, the company executed a binding agreement with MRI Trading AG (MRI) to sell 100% of its Uley 2 production for a term ending five years from the first delivery of Uley 2 flake graphite production.

MRI Trading AG is a Switzerland-based global metal and minerals trading group. 

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Image Source: © Photowitch | Megapixl.com

Renascor Resources Limited (ASX:RNU)

Renascor Resources’ shares traded at AU$0.228 per share on ASX at 3:29 PM AEST today. The share price of Renascor Resources Limited has gained almost 224% in the last one year. Meanwhile, the stock is up nearly 26% YTD. Renascor Resources Limited has a market capitalisation of AU$484.38 million. Renascor Resources’ Share Purchase Plan (SPP) closed on 17 May 2022.

Syrah Resources Limited (ASX:SYR)

The shares of Syrah Resources Limited traded 0.558% higher at AU$1.800 per share on ASX at 3:48 PM AEST today. The company has a market capitalisation of AU$1.19 billion. In the last one year, Syrah Resources Limited’s shares have gained 76.47%, while the stock is down 6.74% YTD. 

Syrah Resources Limited is an ASX-listed industrial minerals company with its flagship Balama Graphite Operation in Mozambique and a downstream active anode material facility in the US. 

Meanwhile, today, the S&P/ASX 200 Materials (Sector) XMJ was up 1.661% at 17624.600 points at 3:44 PM AEST. 

Read More: Galileo Mining (ASX:GAL) shares zoom over 26% today, here’s why



 


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