Madagascar exports an average of 10,000 tons of graphite annually, most of which is exported to China, the United States and India. Among the mining companies that export graphite in Madagascar, Bass Metals is active and has implemented the Graphmada project. In 2018, the company sold more than 600 tons of graphite concentrate to India, which is expected to increase the total sales of the Indian market to more than 3,000 tons by 2020, and accordingly reached an agreement with the Indian company Polo Queen Minchems to cooperate in marketing. India ’s increased demand for graphite is responsible for the increase in Malaysia ’s exports.
India has been importing Madagascar graphite for many years, but the market share of horses is still very low. The data shows that from 2016 to 2017, India's total graphite imports were 37,044 tons, of which 85% came from China, 7% came from Madagascar, and 6% came from Brazil.
At present, the price of graphite raw materials is around US $ 300 per ton (July 17, 2019 priced at US $ 301.45). According to Bass Metals data, India ’s imports from China fell to 19,391 tons in 2018, and it is forecast to be 17,500 tons in 2019, which is beneficial to suppliers in other countries. Bass Metals will continue to invest in the Graphmada project in the next few years, while selling horse graphite products in the United States and Germany.