Graphite India and HEG shares experienced a surge of up to 13% following the announcement that Japanese firm Resonac will be closing its graphite electrode plants in China and Malaysia. This information was reported by Nikkei.

Resonac's decision involves liquidating its subsidiaries in both China and Malaysia. This strategic move will leave the company with a reduced operational footprint, concentrating its graphite electrode production across four key locations: Japan, the United States, Austria, and Spain.

The market's reaction, particularly the increase in Graphite India and HEG shares, reflects investor sentiment regarding the potential impact of Resonac's restructuring on the global graphite electrode market. The closure of plants in China and Malaysia could lead to shifts in supply and demand dynamics, potentially benefiting other players in the industry.