Second-Life Application Market Remains Generally Stable, Ternary Large-Capacity Quotations Under Pressure [SMM Weekly Review]

SMM, June 11:

Second-life Application Market This Week:

China’s second-life battery market was largely stable this week, with prices for most categories unchanged. Cost side, lithium carbonate continued to rise, cobalt sulphate held steady, and nickel sulphate pulled back slightly. Ternary large-capacity EV-grade second-life battery cells were affected by weak end-use demand in the EV sector, with quoted prices softening, though no actual concluded-pullback occurred—buyers and sellers remained in a standoff. LFP A-grade downgraded cells, the mainstay of energy storage, held firm with deals primarily driven by rigid demand; B-grade cells leveraged cost advantages to lock in low and mid-end markets, with stable transactions; disassembled cells faced low acceptance due to policy and safety constraints, with prices low and largely stable. Looking ahead, second-life market prices will remain largely stable. LFP cells, supported by energy storage, still have slight upside room; ternary large-capacity cells, dragged by demand, lack upward momentum and will continue to be in the doldrums. Widespread rises or falls across the overall market are unlikely, with transactions mainly focused on rigid demand.

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