Battery Material Stocks Jump after US Announces Graphite Duty

Stocks of battery material makers climbed after the US announced it would impose preliminary anti-dumping duties of 93.5% on graphite imports from China.

Shares of Australian graphite miner Syrah Resources Ltd. surged as much as 38%, while shares of South Korea’s Posco Future M Co. climbed 24%. Novonix Ltd., an Australian-listed company with a graphite production plant in Chattanooga, Tennessee, surged 21%. Gains in these and other Asian stocks tracked earlier jumps in Canadian peers including Nouveau Monde Graphite Inc.

The Commerce Department issued the preliminary determination Thursday, and a final plan should be announced by Dec. 5. The ...