Can low-sulfur petcoke remain the bottleneck for lithium battery anodes?

Can low-sulfur petcoke remain the bottleneck for lithium battery anodes?
The anode supply constraint is shifting upstream. Graphitization capacity has expanded fast, but low-sulfur petcoke supply cannot follow at the same pace: domestic 1# low-sulfur green coke is roughly 5% of total output, and refinery feedstock is trending heavier and higher in sulfur. Anode material output is forecast to keep climbing, pulling petcoke demand higher year on year, while low-sulfur supply stays tight. That gap widens the deficit and intensifies competition for on-spec cargoes, with import dependence for high-grade lithium coke still above 35%. Companies with mature global procurement channels and scale purchasing stand to gain the most.