【SMM Analysis】Weekly Price Trend Analysis of ESS Battery Cells, 4.17-4.24

This week, ESS battery prices remained stable, with the low-end prices of 280Ah and 314Ah batteries holding steady at 0.275 yuan/Wh, which has been the mainstream transaction price range recently. However, as the grid connection deadline of May 31 approaches, the market concentration in the ESS battery manufacturing industry has significantly increased. The capacity utilization rate of leading battery cell manufacturers remains high, leading to slight price increases for some spot orders. However, the subsequent orders for third- and fourth-tier battery cell manufacturers have decreased, and production in April and May may decline MoM from March. Looking ahead, as the grid connection deadline of May 31 approaches and overseas order exports face obstacles, domestic ESS battery cell production may lack strong support. According to SMM's market exchanges, many battery cell manufacturers currently do not see strong demand support, so as demand weakens, ESS battery cell prices may experience a slight decline.

SMM New Energy Industry Research Department

Cong Wang 021-51666838

Rui Ma 021-51595780

Disheng Feng 021-51666714

Yanlin Lü 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