人造石墨续跌 天然石墨持稳运行【SMM锂电负极市场周评】

SMM June 26 News:

This week, the prices of some artificial graphite anode materials have declined due to the impact of the previous cost reduction. On the demand side, constrained by the high inventory of finished vehicles, automakers have slowed down their production pace, resulting in sluggish growth in demand for power battery cells. However, the demand in the small energy storage market has recovered, effectively offsetting part of the demand gap caused by the decline in NEV demand. This change in demand structure has been transmitted layer by layer, maintaining relatively stable demand for anode materials at the battery cell level. Meanwhile, the supply side remains abundant. On the cost side, due to the lag in the production process, the price transmission effect of the previous cost reduction has been gradually released in the current production cycle, driving corresponding adjustments in product prices. Under the dual impact of the continuous abundance in the supply side and the downward pressure on the cost side, the prices of artificial graphite anode materials have continued to decline this week. Looking ahead, although overcapacity is difficult to improve in the short term, there is an expectation that the prices of relevant raw materials will stop falling and rebound. Cost support is expected to gradually strengthen, and the prices of anode materials may gradually enter a stable operation phase.

This week, supported by the stable situation on both the cost and supply sides, the market prices of natural graphite anode materials have remained stable. Looking ahead, with the acceleration of technological innovation in artificial graphite anodes, the gap in core performance indicators such as specific capacity and cycle life between artificial graphite anodes and natural graphite anodes continues to narrow. Based on the demand for cost reduction, efficiency improvement, and performance upgrades, downstream customers are gradually shifting their procurement preferences towards artificial graphite anodes, resulting in a significant squeeze on the market demand for natural graphite anodes. Therefore, it is expected that the prices of natural graphite anode materials will face continuous downward pressure in the long term.

SMM New Energy Research Team

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

Xu Mengqi 021-20707868

Hu Xuejie 021-20707858