[SMM Analysis] Production and Sales Performed Well; Separator Prices Remained Stable This Week

SMM January 2 News:

This week, lithium battery separator material prices remained stable. Year-end domestic customers' rush for installations sentiment remained strong, and due to the relatively early timing of the 2025 Chinese New Year, both domestic and international downstream customers arranged certain advance stockpiling. Overall, downstream demand continued to provide solid support, enabling separator companies to maintain high operating rates, ensuring stable separator material production, and achieving relatively optimistic sales performance. In terms of pricing, after previous bidding rounds, current separator prices have reached relatively low levels. With guaranteed operating rates, companies have reduced their willingness to engage in bidding wars, primarily opting for stable pricing strategies, resulting in minimal overall price fluctuations. However, considering that separator companies have not halted capacity expansion and there remains a certain surplus in separator capacity, companies will continue to compete for market share. Additionally, year-end downstream customers have initiated a new round of bidding or price negotiations, with many still aiming for cost reductions. As a result, separator material prices will remain under pressure and may face potential downward adjustments in the future.

SMM New Energy Research Team

Cong Wang 021-51666838
Xiaodan Yu 021-20707870
Rui Ma 021-51595780
Ying Xu 021-51666707
Disheng Feng 021-51666714
Yujun Liu 021-20707895
Yanlin Lü 021-20707875
Ye Yuan 021-51595792
Chensi Lin 021-51666836
Zhicheng Zhou 021-51666711
Haohan Zhang 021-51666752
Zihan Wang 021-51666914
Xiaoxuan Ren 021-20707866
Yushuo Liang 021-20707892
Jie Wang 021-51595902
Yang Xu 021-51666760