Raw Material Decline Unable to Offset New Product Price Support, Second-Life Battery Market Prices Remain Stable [SMM Weekly Review]

Published: May 28, 2026 16:24

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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 May 28 update:

Second-life application weekly overview:

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 for well-known mobile phone cell pricing always references new battery cell prices, and recently new ternary battery cell prices have generally begun to rise, directly supporting the price floor of the second-life battery market and 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 increase in new supply volumes, 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 EV sector end-use demand. Energy storage demand remained relatively strong, but the Grade A/B market had already undergone a round of price increases earlier, with current prices already at a relatively high level. Downstream 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 should be paid to lithium carbonate trends and whether new ternary battery cell price increases can be transmitted to the second-life battery market going forward.

SMM New Energy Research Team

Wang Cong 021-51666838

Ma Rui 021-51595780

Feng Disheng 021-51666714

Lv Yanlin 021-20707875

Lei Yue 021-20707873

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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