Graphitisation Costs Provide Price Floor, Tug-of-War Between Sellers and Buyers, Processing Prices Hold Steady [SMM Lithium Battery Anode Raw Material Market Weekly Review]

Second-life battery market prices remained stable this week. Cost side, lithium carbonate prices continued to pull back, cobalt sulphate weakened slightly, nickel sulphate saw a mild rise, and the overall raw material cost center shifted downward, theoretically exerting downward pressure on second-life battery cell prices, but price transmission takes time. Meanwhile, second-life and Grade A/B battery cell pricing always references new battery cell prices, and new ternary battery cells have recently seen widespread price increases, which directly underpinned the price floor of the second-life battery market, offsetting the pressure from declining raw materials. Supply side, enterprise shipments maintained a steady pace, supply circulation was normal, with no concentrated shipments or stockpiling, nor any surge in new supply sources, and the supply landscape remained stable with no supply-demand imbalance. Demand side, ternary second-life battery cells lacked upward demand support due to the continued narrowing of end-use demand from the EV sector. Energy storage demand remained relatively strong, but the Grade A/B market had already gone through a round of price increases earlier, with current prices already at a relatively high level. End-user acceptance of high prices was limited, and momentum for further price increases was insufficient. Overall, the second-life battery market remained in a state of declining raw materials and stable prices. Prices were unlikely to show significant fluctuations in the short term, and attention going forward should be paid to lithium carbonate trends and whether new ternary battery cell price increases can transmit to the second-life battery market.

[SMM Lithium Battery Anode Raw Material Market Weekly Review: Anode Prices Remained Generally Stable, Supply-Demand and Cost Dynamics to Drive Future Trends] May 28: This week, artificial graphite anode material prices remained stable. Raw material prices edged down during this period, but were affected by the lag in production cycles.

[SMM Lithium Battery Anode Raw Material Market Weekly Review: Weakening Costs Dragged Petroleum Coke Lower, Needle Coke Prices Held Steady Amid Tug-of-War Between Sellers and Buyers] May 28: China's low-sulphur petroleum coke market weakened overall this week, with prices declining significantly, down over 6% WoW.