[SMM Analysis] A Review of the Price Trend of Waste Batteries for Cascade Utilization This Week, 2025.04.14-2025.04.17

SMM April 17 News: The prices of Grade B products in the cascade utilization market remained generally stable, with the market mainly adopting a wait-and-see approach. Affected by global tariff policies, the demand for overseas export projects was somewhat impacted. However, as the US battery cell market does not account for a high proportion, the prices of corresponding battery cells and lithium chemicals remained stable overall. Due to the pessimistic expectations for future lithium chemical prices, cascade utilization companies did not rush to make purchases at this time, mainly adopting a wait-and-see attitude and making just-in-time procurement. Meanwhile, upstream battery cell manufacturers and traders maintained firm quotes, keeping the prices of Grade B products in the cascade utilization market stable this week. In terms of supply, although battery cell manufacturers' production was affected by exports to some extent, there were no significant fluctuations. Domestic battery replacement projects proceeded normally, and the supply of waste battery cells for cascade utilization remained sufficient relative to demand. On the demand side, as cascade utilization companies mainly target the domestic market, production plans were generally stable, and downstream demand did not show significant changes. The overall supply-demand pattern remained unchanged. In the short term, some cascade utilization producers, anticipating future price declines, continued to focus on just-in-time procurement. Prices are expected to remain stable or experience slight declines. SMM New Energy Research Team Cong Wang 021-51666838 Rui Ma 021-51595780 Disheng Feng 021-51666714 Yanlin Lyu 021-20707875 Yujun Liu 021-20707895 Xiaodan Yu 021-20707870 Zhicheng Zhou 021-51666711 He Zhang 021-20707850