Novonix announces participation in AAAMP petition

Novonix (NVX) announced the company’s participation in the American Active Anode Material Producers’, or AAAMP, petition to the U.S. Department of Commerce and the International Trade Commission, or ITC, to investigate whether China is exporting natural and synthetic graphite used to make lithium-ion battery anode material at unfair prices to the United States. The filing asserts China is harming the nascent domestic graphite industry by exporting artificially cheap battery-grade graphite into the U.S., denying North American producers a fair opportunity to enter the market. Experts at Buchanan Ingersoll & Rooney PC, the law firm handling the case, estimate dumping margins as high as 920%. If the investigation proves conclusive, Commerce will assess the use of additional tariffs equal to the extent of unfair pricing by the Chinese. China currently has over 95% market share for battery grade graphite.