Resumen de Graphite 2015: : Oil price slump hits synthetic graphite
The effects of the price decline continue to "trickle through the industry", [Gerry Hand] said, describing the market for graphite in drilling as being "under siege". The number of drilling rigs in the US has fallen to its lowest level since April 2002 and is down 59% from its October 2014 peak. OPEC has so far given no indication that crude oil production will be curbed, and crude prices fell below $37/barrel (bbl) on the Brent benchmark and below $40/bbl on the West Texas Intermediate (WTI) in December - their lowest for nearly seven years.
"[The industry is] building around 2m barrels per day in inventory - that's only going to keep things depressed," said Hand. He described predictions that Brent prices would reach $100/bbl by 2018 as "optimistic". Goldman Sachs has said that prices could fall as low as $20/bbl.
Lithium-ion ([Li]-ion) batteries are credited by many as being the sector with the greatest growth potential, although Corey Nolan, CEO of ASX-listed graphite junior, Sayona Mining Ltd, admitted that the so-called "green energy revolution" is not yet "as strong as hoped".
