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| China Shandong Sunstone |
China’s Shandong Sunstone significantly increased its anode output and sales in 2024, driven by booming lithium-ion battery production. The Sunstone anode output rose in both traditional prebaked carbon anodes and synthetic graphite materials used in EV battery supply chains.
Prebaked Carbon Anode and Synthetic Material Output Surge
Sunstone’s production of anode materials jumped to 54,100 tonnes in 2024, marking an 83% increase from 29,600 tonnes in 2023. Corresponding sales rose 66% to 43,800 tonnes. This growth reflects rising demand for lithium-ion batteries, which rely on synthetic graphite and carbon-based anodes.
In addition, Sunstone produced 3.26 million tonnes of prebaked carbon anodes in 2024, a 10% increase from the previous year. Sales for these anodes also rose 11% to 3.32 million tonnes. The company sources over 3 million tonnes of petroleum coke annually to fuel this growing demand.
EV Battery Growth Accelerates Feedstock Consumption
The lithium-ion battery market continues to expand at a rapid pace. Global shipments reached 1,545.1 GWh in 2024, up 29% from 2023. China led the way with 1,214.6 GWh in shipments, marking a 37% year-on-year increase. As a result, firms like Sunstone are scaling up production capacity to keep pace with downstream EV and energy storage demands.
Petroleum coke remains a critical feedstock for anode manufacturing, tying Sunstone’s operations closely to oil refining supply chains. This strategic positioning enables the company to support China's dominant role in global battery exports.
The Metalnomist Commentary
Sunstone’s rapid output expansion reflects the deepening integration between China’s anode manufacturers and the global EV battery market. As demand for graphite-based materials surges, securing raw materials like petroleum coke will become increasingly strategic.
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