[SMM Separator Weekly Review] Supply-Demand Gap Persists, Expectations of Price Hikes in September Heat Up

Published: Aug 6, 2026 18:24

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[SMM Analysis] Overall Stable Separator Market Prices

The separator market remained generally stable this week. Specific quotations showed firm prices for high-end wet-process separators: 5μm (5μ+2μ) at 1.57-1.87 yuan/m², 7μm (7μ+2μ) with mainstream quotations at 1.14-1.337 yuan/m², and 9μm (9μ+3μ) at 1.135-1.29 yuan/m². July operational data showed separator production rose about 4% MoM, while end-user production schedules surged 9.95% MoM over the same period—production growth continued to lag downstream demand growth, and the supply-demand gap widened further. Entering August, end-user production schedules are expected to grow another 8% MoM, while separator production growth is projected to narrow to around 3%, likely widening the supply-demand scissors gap further. Leading separator enterprises currently maintained full-capacity operations, with second- and third-tier enterprises also running at high operating rates, keeping the overall industry in a tight balance. Pricing side, base film gains were limited by competitive quotations from second- and third-tier players, while coated products performed relatively firm, supported by energy storage and high-end power demand. In the short term, with the supply-demand gap persisting and a new round of order negotiations about to begin in September, separator enterprises are showing a gradually strengthening willingness to increase prices. If downstream production schedules remain elevated and supply growth stays limited, prices are expected to have room for another modest uptick in September. The market currently remains stable overall, with attention on the actual magnitude of September’s negotiated order settlements.

SMM New Energy Research Department

Wang Cong 021-51666838

Ma Rui 021-51595780

Feng Disheng 021-51666714

Lü Yanlin 021-20707875

Zhang Haohan 021-51666752

Wang Zihan 021-51666914

Wang Jie 021-51595902

Xu Yang 021-51666760

Chen Bolin 021-51666836

Yang Le 021-51595898

Li Yisha 021-51666730

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