[SMM Analysis] Battery Cell Prices Remained Stable This Week, While the Production Schedule Continued to Decline

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In terms of power battery cell prices, according to the latest SMM data, the price of 100Ah prismatic LFP battery cells is 0.355 yuan/Wh, and the price of 6-series prismatic ternary battery cells is 0.505 yuan/Wh, remaining flat compared to last week. Supply side, affected by the off-season and the Chinese New Year holiday, overall demand in February was relatively weak, and the overall production schedule of battery cells continued to decline. However, with the acceleration of work resumption, battery cell production is expected to steadily increase, with a significant rise anticipated in March. Demand side, NEV sales in January reached 889,000 units, up 27.1% YoY but down 41.2% MoM. Following the introduction of trade-in policies in various regions, NEV sales are expected to gradually increase, leading to a recovery in battery cell demand. On the power battery PACK side, influenced by the decline in battery cell costs, its price also saw a slight decrease.

SMM New Energy Research Team

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

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

Lianting Yang 021-51595835