[Lithium Battery: Sunwoda's 2025 Revenue Exceeds 63.246 Billion Yuan]

Raw material side, spot lithium carbonate prices accelerated downward after falling below the 140,000 yuan/mt mark this week, nickel sulphate prices continued to edge lower, and cobalt sulphate prices extended their decline.

This week, the second-life application market remained generally stable, with limited fluctuations in quotations across categories and a subdued trading atmosphere. Cost side, overall performance was sluggish, with raw material prices continuing their downward trend. This week, lithium carbonate maintained a downward trajectory overall, nickel sulphate pulled back slightly, and cobalt sulphate continued to weaken, with the cost support from raw materials for second-life products persistently diminishing. Due to the lag in industry chain transmission, finished product prices have not yet adjusted in tandem with raw materials. Supply side, the pace of shipments remained normal, with smooth circulation of market supply and no extreme situations such as concentrated sell-offs or supply tightening, leaving the overall supply side relatively stable. Demand side, overall performance was weak. Affected by ongoing industry compliance rectification, downstream purchasing enthusiasm was low, with purchases mostly made on a just-in-time procurement basis, and new order transactions in the market lacked follow-through momentum. In the short term, if raw material prices on the cost side continue to decline, overall prices of second-life application products will face downward pressure, with the possibility of a general decline, and market wait-and-see sentiment may further intensify.