【SMM Analysis】Weekly Price Trend Analysis of ESS Battery Cabin, 3.20-3.27

This week, ESS battery cell prices remained stable, with no significant fluctuations in the price range of mainstream models. Among them, the price range for 280Ah ESS battery cells was 0.277-0.33 yuan/Wh, while the price range for 314Ah ESS battery cells was 0.27-0.34 yuan/Wh. However, the price of 100Ah battery cells has shown an upward trend recently due to increased demand. Recently, the R&D of large-capacity ESS battery cells of 500Ah+/600Ah+ has accelerated, but the impact on prices is limited in the short term. Cost side, lithium carbonate prices are approaching the support level of 70,000 yuan/mt, with limited further downside room. The pressure from rising raw material prices for anodes may be transmitted to the battery cell end, and it is expected that battery cell costs will increase MoM in April, but the price increase for ESS battery cells will be limited.

SMM New Energy Industry Research Department

Cong Wang 021-51666838

Rui Ma 021-51595780

Disheng Feng 021-51666714

Yanlin Lyu 021-20707875

Zhicheng Zhou 021-51666711

Haohan Zhang 021-51666752

Zihan Wang 021-51666914

Jie Wang 021-51595902

Yang Xu 021-51666760

Bolin Chen 021-51666836