SMM

【SMM Analysis: A Review of This Week's Cascade Utilization Market Price Trends】This week, the prices of Grade B products in the cascade utilization market remained stable, while the prices of Grade A products slightly increased. In terms of supply, as the overall production of battery cells steadily rose in March, the corresponding output of waste battery cells for cascade utilization also remained relatively stable. Meanwhile, recent tender activities for waste battery cells for cascade utilization proceeded normally, and the total volume of battery swapping tenders this year is expected to be higher than last year, collectively leading to an increase in overall market supply. On the demand side, delivery demand remained generally stable, but slightly influenced by the recent prices of ternary battery cells, some power tools such as electric mixers and electric excavators, which do not require much consideration for battery cell safety, tended to opt for lower-priced Grade A waste battery cells for cascade utilization. Additionally, the output of high-grade Grade A waste battery cells for cascade utilization was limited, resulting in a slight price increase for Grade A products recently. Grade B waste battery cells for cascade utilization, still in a state of oversupply, remained stable due to the upstream sentiment to stand firm on quotes. In terms of actual transactions, the market was dominated by just-in-time procurement, with minimal hoarding. In the short term, the prices of Grade A waste battery cells for cascade utilization are expected to fluctuate in line with power battery cell prices, while Grade B prices are likely to remain stable. The long-term bearish trend for waste battery cells for cascade utilization has not fundamentally changed.