[SMM Weekly Review] Second-life Application Market Demand Remained Stable This Week (2025.8.25-2025.8.28)

Published: Aug 28, 2025 18:54

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From an overall data perspective, at the end of August, the rigid demand in the second-life application market remained stable, with domestic and overseas markets receiving some support due to the policy transition period. In early August, the sales momentum of new energy vehicles gradually faded, but the overall market supply increased MoM, with the supply of end-of-life batteries remaining stable. The demand from end-use applications was mediocre, and it is expected that future demand growth will be limited. The previous rise in spot lithium carbonate prices was passed on to terminal battery cells, leading to a slight increase in battery cell prices, and second-life battery cell prices also rose slightly as a result. Recently, spot lithium carbonate prices have fallen, but the price transmission takes time, so second-life prices have remained unchanged recently. The overall market basically maintained a balance between supply and demand, with companies trading according to market conditions, and it is expected that the increase in second-life battery cell prices will be limited. Market transactions remained sluggish, with some second-life battery producers continuing to operate with low inventory, and purchases mainly driven by essential needs.

SMM August 28 News:

Second-life application market this week:

Overall, the rigid demand for second-life applications remained stable at the end of August, with domestic and overseas markets receiving some support due to the policy transition period. The sales momentum of new energy vehicles gradually faded in early August, but the overall supply increased MoM, with a steady supply of end-of-life batteries. End-use application market demand was mediocre, and it is expected that future demand growth will be limited. The previous rise in lithium carbonate prices was passed on to terminal battery cells, leading to a slight increase in battery cell prices, and second-life battery cell prices also rose slightly as a result. Recently, lithium carbonate prices have fallen, but price transmission takes time, so second-life prices have remained unchanged recently. The overall market basically maintained a balance between supply and demand, with companies trading according to market conditions, and it is expected that the price increase of second-life battery cells will be limited. Market transactions remained sluggish, with some second-life battery producers continuing to operate with low inventory, and purchases mainly driven by necessity.

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

Lei Yue 021-20707873

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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