[SMM Analysis] Battery Cell Production Schedule Down 7% MoM in December, Expected to Decline Further in January

Last week, power battery cell prices remained stable. According to SMM data, the price of 100Ah prismatic LFP battery cells was 0.365 yuan/Wh, while the price of 6-series prismatic ternary battery cells was 0.515 yuan/Wh.
Supply side, battery cell production schedules in December decreased by 7% MoM, with a 4% MoM decline for LFP power battery cells and a 6% MoM decline for ternary power battery cells. The market CR5 stood at 82%.
Demand side, year-end installation rush has ended, coupled with the impact of the Chinese New Year holiday, leading to weakened demand for battery cells. Battery cell production schedules in January are expected to continue declining, with the scale of reduction further increasing. Power battery PACK prices remained stable.