[SMM Weekly Review] Second-Life Application Market Prices Stabilize in Short Term, Cobalt Price Transmission May Lead to Later Price Increases for Ternary B-Grade Battery Cells for Well-Known Mobile Phones (2025.10.13-2025.10.16)

Published: Oct 16, 2025 16:03

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This week, prices in the second-life battery market remained generally stable. Supply side, influenced by the traditional September-October peak season, battery cell manufacturers increased production, providing some support to the number of cells available for second-life and recycling. Demand side, acceptance of higher prices remained low. Cost side, due to adjustments in cobalt export policies in the DRC, cobalt salt prices rose significantly, driving up prices of ternary cathode material and batteries for well-known mobile phones. However, lithium chemicals prices remained relatively stable recently. Some enterprises, considering cost control, gradually shifted short-term purchasing targets toward LFP cells. Meanwhile, previous price increases had already reached the psychological upper limit for downstream enterprises. The combined effect of these factors helped maintain stable prices in the second-life battery market.

SMM October 16 News:

Second-Life Battery Market This Week:

This week, second-life battery market prices remained generally stable. Considering current supply-demand feedback, the supply side, affected by the September-October peak season, saw increased production from battery cell manufacturers, providing some support to the number of cells available for second-life applications. On the demand side, acceptance of higher prices was low. However, on the cost side, adjustments to cobalt export policies in the DRC led to a significant rise in cobalt salt prices, which in turn drove up prices for ternary cathode materials and new battery cells for well-known mobile phones. Recently, lithium chemical prices remained relatively stable, and some enterprises, considering cost control, gradually shifted their short-term purchasing focus toward LFP cells. Meanwhile, previous price increases had already reached the psychological upper limit for downstream enterprises. The combined effect of these factors helped maintain stable prices in the second-life battery market.

Based on an analysis of the current supply-demand pattern and cost transmission, overall demand in the second-life battery market is expected to remain relatively stable in the near term, with very limited room for price increases and no significant fluctuations anticipated. However, due to the lag in cost transmission, the current cobalt price increase has not yet fully passed through to the end-use second-life application segment. Once cobalt price increases are fully transmitted to the end-use market, prices for ternary B-grade battery cells for well-known mobile phones are expected to rise to some extent.

SMM New Energy Research Team

Wang Cong 021-51666838

Ma Rui 021-51595780

Feng Disheng 021-51666714

Lü Yanlin 021-20707875

Zhou Zhicheng 021-51666711

Lei Yue 021-20707873

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