Whalesbook
HEG Limited reported a 13% sequential revenue growth, primarily from higher volumes, despite fragile global demand. Challenges include strong export surpluses from China impacting graphite electrode pricing and the EU's Carbon Border Adjustment Mechanism. However, the company maintains cost leadership and is expanding capacity by 15% by December 2027. Positive factors include potential US steel up-cycles via its stake in Graftech and strong medium-term global demand for graphite electrodes driven by new Electric Arc Furnace capacities.