Spain Gets Every Pin GrafTech Makes
GrafTech finalized the write-off on Monterrey yesterday, and the same filing says every connecting pin it makes will come from one plant in Pamplona. The same morning's Federal Register scheduled a February hearing on imported electrodes and pins. Also on the file: helium got a federal label and a new source inside forty-eight hours, and PHMSA wants to split vanadium pentoxide in two.
GrafTech can make 132.0 thousand metric tons of graphite electrodes in nine months.
From 2027 it plans to make about 127 thousand in twelve.
"What does a producer actually buy when it takes its own capacity off the board?"
Yesterday's filing answers it with arithmetic.
Spain Gets Every Pin
GrafTech amended its Monterrey closure 8-K on Monday, for the sole purpose of reporting the non-cash side of a number it could not finish in August.
Management finalized those estimates on October 20: $25m to $35m of non-cash charges, of which $12.3m is fixed asset write-offs and the rest accelerated depreciation. The cash side holds at $20m to $25m, majority spent by the end of 2027.
Those are accounting numbers. The capacity number sits in the risk paragraph.
The filing lists among its risks "our reliance on one facility in Pamplona, Spain for the manufacturing of connecting pins after the Mexico Facility Closure."
Monterrey made electrodes and pins. Calais and Pamplona take the electrode volume, and Pamplona alone takes the pins.
Now, the utilization math. Q3 production was 27.0 thousand MT against a quarterly capacity of 42.0, which the company reports as 64% utilized.
Quarter the post-closure annual figure of 127 and the same 27.0 lands at roughly 85% (chart below).
Twenty-one points of utilization, no extra electrodes, $20m to $25m of annual cash savings landing in full in 2028.
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