GrafTech International (EAF) said Thursday that it will increase graphite electrode prices by at least $600 to $1,200 per metric ton, depending on the region, and effective immediately on product that is yet to be committed.

According to the company, market prices for graphite electrodes have fallen significantly over the past three years, below levels needed for continued investment and maintaining a reliable long-term supply.

The company said current geopolitical developments have also raised its input costs, including oil-based raw materials, energy, and logistics.