This week, ESS battery cell prices slightly rebounded, and subsequent prices may remain stable.

This week, the prices of 280Ah and 100Ah ESS battery cells increased, while the prices of 314Ah and 50Ah ESS battery cells remained stable. The main reason was the rise in prices of key materials such as graphite anode and copper-aluminum, leading to a short-term increase in ESS battery cell costs, though the growth was relatively small. According to SMM's calculations, as of last Friday, the theoretical cost of 280Ah battery cells was 0.30 yuan/Wh, while that of 314Ah battery cells was 0.284 yuan/Wh. This week, the prices of 280Ah and 100Ah ESS battery cells saw a slight rebound in the short term due to the depletion of low-cost inventory before the holiday. Meanwhile, the prices of 314Ah and 50Ah ESS battery cells remained stable as market supply and demand were balanced, with minimal short-term cost fluctuations. Looking ahead, ESS battery cell market demand is expected to gradually rebound from late Q1 to early Q2. However, as battery cell cost fluctuations are limited and the capacity transition for 314Ah ESS battery cells is gradually completed, product supply will remain sufficient, and the price of 314Ah battery cells is expected to stay stable. At the same time, after price adjustments, the prices of 280Ah and 100Ah battery cells are also expected to remain stable.