【SMM Weekly Review of Lithium Battery Anode Market: Costs Decline, Some Artificial Graphite Prices Fall This Week】SMM May 8 News: This week, some artificial graphite prices have slightly declined. Cost side, the price of graphitisation tolling services is influenced by the interplay of supply and demand, as well as cost factors······

[SMM Analysis] This week, the prices of DC-side battery cabins slightly declined. The average price of a 5MWh DC-side battery cabin was 0.43 yuan/Wh; the average price of a 3.44/3.77MWh DC-side battery cabin was 0.438 yuan/Wh.

[SMM Weekly Review of Cobalt Intermediate Products Market: Stable Operation of Spot Prices for Cobalt Intermediate Products] This week, the spot prices for cobalt intermediate products operated steadily. On the supply side, mainstream producers continued to supply under long-term contracts and suspended spot order quotations. Currently, only trader-sourced goods are circulating in the market, with traders maintaining relatively high quotations. After completing some inventory replenishment in the early stage, downstream producers' willingness to purchase declined this week, and the market sentiment was characterized by strong wait-and-see attitudes, resulting in very few spot transactions of cobalt intermediate products. It is expected that next week, with no significant improvement in short-term supply and demand, the spot prices for cobalt intermediate products may remain stable.

[SMM Weekly Review of Refined Cobalt Market: Refined Cobalt Spot Price Remains Stable] This week, the spot price of refined cobalt remained stable. Supply side, the current social inventory in the market remains relatively high. Due to the sustained high cost of raw materials, the economic viability of refined cobalt production continues to decline, and smelters continue to implement production cuts. Demand side, downstream producers only maintain a production schedule based on demand, with relatively low enthusiasm for downstream stockpiling and a strong wait-and-see sentiment. It is expected that next week, the refined cobalt price may maintain a fluctuating trend.

[SMM Weekly Review of Lithium Battery Graphite Market: Amidst the Game Between Supply-Demand Pattern and Production Costs, Graphitisation Tolling Services Prices Stalled This Week] SMM reported on May 8: This week, graphitisation prices remained stable. As we entered May, electricity costs for graphitisation are set to decline, directly reducing the production costs of graphitisation tolling services······

This week, the prices of ternary cathode materials continued to decline. On the raw material side, nickel sulphate prices rose slightly, while cobalt sulphate and manganese sulphate prices dropped back slightly. The prices of lithium carbonate and lithium hydroxide fell sharply, collectively leading to a weakening in the prices of ternary cathode materials across all categories.

[SMM Weekly Review of Lithium Battery Anode Raw Material Market: Anode Raw Material Coke Prices Continue to Decline This Week] SMM reported on May 8: This week, the low-sulphur petroleum coke market remained in the doldrums, with an average market price of 4,087 yuan/mt, down 5% WoW. Cost side······

[SMM Weekly Review of Electrolyte Market: Lithium Electrolyte Prices Decline, Fluctuate Rangebound in the Short Term] From April 28 to April 30, 2025, electrolyte prices declined, driven by the continuous drop in the price of LiPF6, a core raw material. It is expected that electrolyte prices will continue to fluctuate rangebound in the coming period.

[SMM Weekly Review of Refined Cobalt Market: Refined Cobalt Spot Price Strengthens] This week, the spot price of refined cobalt fluctuated upward. Supply side, the current social inventory in the market remains relatively high. However, due to tight raw material supply and the declining economic efficiency of refined cobalt production, some smelters have implemented production cuts. The market expects that the available supply in the future may decline. Demand side, the inquiry enthusiasm of downstream producers has slightly increased, but they are still basically maintaining a production schedule based on demand. It is expected that after the holiday, the refined cobalt price will maintain a fluctuating trend.