Second-life Application Market Remained Stable Overall, while Upstream and Downstream Price Negotiations Continued [SMM Weekly Review]

Published: Aug 27, 2026 16:19

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The second-life application market remained stable overall this week. On the cost side, raw material trends diverged: lithium carbonate surged sharply at the beginning of the week before continuously pulling back, showing a rise-then-fall pattern over the week; cobalt sulphate continued to grind lower; and nickel sulphate edged down. Fluctuations on the raw material side have not yet significantly transmitted to second-life finished products. On the supply side, the circulation pace gradually recovered, and willingness to sell showed a marginal recovery. After the circulation disruptions caused by earlier policy adjustments, market supply began to gradually return to normal this week. On the demand side, rigid demand provided stable support, while downstream purchasing sentiment remained on the sidelines. Affected by earlier price movements, downstream acceptance of current price levels was cautious, and market transactions mainly reflected the digestion of earlier price reductions. The upstream and downstream were locked in a price standoff. Overall, the market currently lacks clear upward or downward drivers, and short-term trends are expected to remain stable.

SMM August 27 News:

Second-life Application This Week:

The second-life application market operated steadily overall this week. Cost side, raw material trends diverged. Lithium carbonate surged significantly at the start of the week and then continued to pull back, showing a first-rise-then-fall pattern over the week. Cobalt sulphate continued to grind lower, while nickel sulphate edged down. Fluctuations in raw material prices did not yet significantly transmit to the second-life product segment. Supply side, the pace of market circulation gradually recovered, and willingness to sell marginally recovered. After the circulation disruptions caused by previous policy adjustments, supply of market sources began to gradually return to normal this week. Demand side, rigid demand support was stable. Downstream procurement sentiment remained cautious and wait-and-see, and affected by previous price changes, downstream acceptance of current price levels was relatively cautious. Market transactions focused on digesting previous price reductions, and upstream and downstream were in a price gaming stage. Overall, the current market lacked clear drivers for price changes, and the short-term trend would continue to be stable.

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

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