FinDreams Battery and Sichuan Meishan Xingmei Investment Group Officially Sign Framework Cooperation Agreement

[SMM Analysis] This week, the energy storage battery cell market showed structural divergence, with demand for utility-scale energy storage remaining stable, the supply-demand pattern remaining tight, and mainstream product prices holding steady overall; residential ESS was affected by weakening demand expectations outside China and earlier inventory accumulation, with integrators' cargo pick-up pace slowing and some residential battery cell quotes revised downward.

According to the National Bureau of Statistics, national sulfuric acid (100% basis) output in June 2026 reached approximately 7.923 million tons (vs. 8.365 million in May, 8.948 million in April, and 9.637 million in March, showing a month‑on‑month decline). The year‑on‑year change for the month was about ‑10%. For the first half of the year (January–June), cumulative production totaled roughly 52.223 million tons, a year‑on‑year decrease of about ‑0.1% (down from +1.9% in the January–May period, mainly due to the sharp 10% drop in June). Production remains heavily concentrated in smelting and phosphate‑fertilizer provinces such as Yunnan, Inner Mongolia, Guangxi, Anhui, Henan, and Shandong—with Yunnan ranking first at about 1.24 million tons per month. Smelter acid (by‑product from copper/zinc processing) forms the supply backbone, while acid for phosphate fertilizer drives the bulk of demand.

This week, ternary cathode precursor prices weakened. During the week, nickel sulphate and cobalt sulphate prices declined, while manganese sulphate prices remained stable.