[SMM Weekly Review] Demand in the Second-Life Battery Market Rationally Returned, with Prices Temporarily Stable, 2026.03.23-2026.03.26

SMM News, March 26:

Second-Life Application Market Update This Week:

Second-life battery market prices were broadly stable this week, while structural divergence in the market remained evident. Cost side, trends in various raw materials diverged, with overall costs rising slightly. Lithium carbonate prices increased, pushing up battery cell recycling and processing costs; nickel sulphate and cobalt sulphate prices remained stable, easing one-sided cost pressure, and overall costs edged up mildly over the week. Supply side, supply of popular battery cell models for energy storage was tight, with limited spot cargo available; conventional models remained sufficiently available, and no broad-based shortage emerged in the market. Demand side, the gap between energy storage and the EV market remained wide. Demand in the EV sector stayed sluggish, with low purchasing enthusiasm and insufficient support for prices; energy storage demand remained the mainstay of the market, with stable rigid demand. However, with prices currently at high levels, downstream buyers became more rational in purchasing, and willingness to purchase at high prices declined, causing the current price increase to lose momentum.

Overall, amid slightly higher costs, diverging supply and demand, and rational downstream demand, the second-life battery market stopped rising this week and remained stable at high levels. In the short term, major market fluctuations were unlikely, and close attention should be paid to lithium carbonate prices, energy storage demand, and supply conditions for popular battery cell models to assess the market outlook.

SMM New Energy Research Team

Wang Cong 021-51,666,838

Ma Rui 021-51,595,780

Feng Disheng 021-51,666,714

Lv Yanlin 021-20,707,875

Lei Yue 021-20,707,873