【SMM Analysis】Analysis of Weekly Price Trends for ESS Battery Cells, 4.25-4.30

This week, the overall price trend of ESS battery cells remained stable. The low-end transaction prices of mainstream 280Ah and 314Ah LFP (mid-end, for ESS) battery cells stayed at 0.275 yuan/Wh, with no significant fluctuations in the price center. As the grid connection deadline of May 31 approaches, tenders for electricity ESS projects have been finalized in rapid succession, driving a short-term rebound in the shipment pace of battery cells. However, most of these orders are for supplementing the volumes of earlier projects. Small and medium-sized enterprises are under order pressure, with production schedules generally pulling back. Starting from mid-to-late April, they have been adjusting their startup plans one after another. It is expected that the downward pressure on production will intensify on a MoM basis in May. Overseas, the progress of ESS projects in North America and Southeast Asia has slowed down, with some battery cell export orders being delayed or reduced, indicating pressure on export channels. Overall, prices are expected to remain stable in the short term. However, with the approaching grid connection deadline and the slowdown in overseas demand, there is an expectation of a slight downward adjustment in the prices of ESS battery cells.

SMM New Energy Industry Research Department

Wang Cong 021-51666838

Ma Rui 021-51595780

Feng Disheng 021-51666714

Lv Yanlin 021-20707875

Zhou Zhicheng 021-51666711

Zhang Haohan 021-51666752

Wang Zihan 021-51666914

Wang Jie 021-51595902

Xu Yang 021-51666760

Chen Bolin 021-51666836

Yang Le 021-51595898