[SMM Analysis] Battery Cell Prices for ESS Remained Stable This Week, with Potential Increases for Certain Models in the Future

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SMM March 6 News:

This week, ESS battery cell prices remained largely stable. The main reason was the rise in prices of key materials such as graphite anode materials and SBR, leading to a slight increase in ESS battery cell costs in the short term, though the increase was relatively small. According to SMM calculations, as of last Friday, the theoretical cost of 280Ah battery cells was 0.298 yuan/Wh, and 314Ah battery cells were 0.2823 yuan/Wh. Looking ahead, ESS battery cell market demand is expected to gradually recover from late Q1 to early Q2. However, due to the relatively small fluctuation in battery cell costs and the completion of the capacity transition for 314Ah ESS battery cells, product supply is sufficient, and mainstream 314Ah battery cell prices are expected to remain largely stable. However, 280Ah and 100Ah battery cells may face a slight risk of price increases in the short term due to the depletion of low-cost inventory in the early market and tighter supply.

SMM New Energy Industry Research Department

Cong Wang 021-51666838

Xiaodan Yu 021-20707870

Rui Ma 021-51595780

Ying Xu 021-51666707

Disheng Feng 021-51666714

Yujun Liu 021-20707895

Yanlin Lü 021-20707875

Ye Yuan 021-51595792

Chensi Lin 021-51666836

Zhicheng Zhou 021-51666711

Haohan Zhang 021-51666752

Zihan Wang 021-51666914

Xiaoxuan Ren 021-20707866

Yushuo Liang 021-20707892

Jie Wang 021-51595902

Yang Xu 021-51666760