Second-life Application Market Prices Edged Down This Week, Weakening Costs Put Pressure on the Market [SMM Weekly Review]

Published: Oct 15, 2026 16:10 (GMT+8)

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Prices in the second-life application market edged down this week, with trading sentiment remaining sluggish. The broad weakening of raw materials on the cost side was the main driver behind this round of price adjustments. The cost side shifted notably lower overall, with raw materials weakening across the board. This week, lithium carbonate fell markedly, cobalt sulphate pulled back sharply, and nickel sulphate extended its earlier weakness. The synchronized softening of the three core raw materials continued to erode cost support for second-life products. On the supply side, conditions remained generally stable, with smooth circulation of goods across all categories and no concentrated release or tightening of supply. The supply side was relatively neutral, and suppliers gradually lowered their quotes as costs eased. On the demand side, the subdued pattern persisted, with downstream purchase willingness remaining weak. The transmission of raw material prices has not yet fully taken hold, but the sharp cost fluctuations have already pushed transaction prices lower, while also intensifying wait-and-see sentiment in the market, with insufficient follow-through in transactions.

SMM, October 15:

Second-life application this week:

This week, prices in the second-life battery market edged down, with trading sentiment remaining sluggish. The collective weakening of raw materials on the cost side was the main driver of this round of price adjustments. The cost side shifted significantly lower, with raw materials weakening across the board. This week, lithium carbonate fell notably, cobalt sulphate pulled back sharply, and nickel sulphate continued its prior weakness. The synchronized weakening of the three core raw materials continued to erode cost support for second-life products. The supply side remained generally stable, with smooth circulation of various product categories and no concentrated release or tightening of supply. The supply side was relatively neutral, and suppliers gradually lowered their quotes as costs loosened. The demand side remained subdued, with downstream purchase willingness weak. The transmission of raw material prices has not yet fully landed, but the significant cost fluctuations have already driven transaction prices down, while also intensifying wait-and-see sentiment in the market, with insufficient follow-through in transactions.

In the short term, the downward trend on the cost side remains unchanged. If raw materials fail to stabilize and rebound, second-life market prices still have room for further pullback, and the weak demand pattern is unlikely to improve significantly in the near term.

SMM New Energy Research Team

Wang Cong 021-51666838

Ma Rui 021-51595780

Feng Disheng 021-51666714

Lyu 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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