This week, second-life application market prices pulled back, with weakening costs driving looser quotes [SMM Weekly Review]

Published: Oct 22, 2026 16:18 (GMT+8)

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This week, second-life application market prices began to pull back, with overall trading sentiment remaining subdued. The continued weakening of raw materials on the cost side is the core driver behind this round of price softening. Raw materials on the cost side extended their downward pattern, with divergence in the pace of movement across categories. Lithium carbonate maintained a downward trend overall this week; cobalt sulphate fell notably at the start of the week before gradually stabilising; nickel sulphate continued its earlier grind lower, further weakening cost support for second-life products overall. The supply side showed no significant changes, with stable circulation pace across categories and a steady market supply state, with no extreme situations such as concentrated volume releases or tightening supply. The demand side showed no clear improvement, and combined with falling cost-side prices dragging market expectations weaker, previously stable quotes began to loosen and move lower. In the short term, if cost-side prices continue to pull back, the likelihood of further downside in second-life application market prices is relatively high.

SMM, October 22:

Second-life application this week:

Prices in the second-life application market began to pull back this week, with overall trading sentiment remaining subdued. The continued weakening of raw materials on the cost side was the core driver behind this round of price softening. Raw materials on the cost side extended their downward pattern, with divergent pace across categories. Lithium carbonate maintained a downward trend overall this week; cobalt sulphate saw a notable decline early in the week before gradually stabilising; nickel sulphate continued its previous grind lower, further weakening cost support for second-life products overall. The supply side showed no significant changes, with steady circulation pace across categories and a stable market supply situation, with no extreme cases of concentrated volume release or tightening supply. The demand side showed no notable improvement, and combined with falling cost-side prices dragging market expectations weaker, previously stable quotes began to loosen and move lower.

In the short term, if cost-side prices continue to pull back, the likelihood of further downside in second-life application market prices is relatively high.

SMM New Energy Research Team

Wang Cong 021-51666838

Ma Rui 021-51595780

Feng Disheng 021-51666714

Lyu Yanlin 021-20707875

Lei Yue 021-20707873

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