[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.

In Q1 2025, the global power battery market remained in a growth phase, but intensified competition led to significant differentiation among producers, with top-tier enterprises continuing to expand their market share by leveraging their scale and technological advantages, while the rankings of second- and third-tier enterprises saw substantial changes.