SMM

【SMM Analysis: A Review of This Week's Cascade Utilization Price Trends】The prices of Grade B products in the cascade utilization market remained generally stable, with the market adopting a wait-and-see approach. Affected by global tariff policies, the demand for overseas export projects was somewhat impacted. However, as the US battery cell market does not account for a high proportion, the prices of corresponding battery cells and lithium chemicals remained stable overall. Due to pessimistic expectations regarding future lithium chemical prices, cascade utilization companies were not in a hurry to make purchases at this time, primarily adopting a wait-and-see attitude and making just-in-time procurement. Meanwhile, upstream battery cell manufacturers and traders maintained firm quotes, keeping the prices of Grade B products in the cascade utilization market stable this week. In terms of supply, although battery cell production was affected by exports to some extent, there were no significant fluctuations. Domestic battery replacement projects proceeded normally, and the supply of waste battery cells for cascade utilization remained sufficient relative to demand. On the demand side, as cascade utilization companies mainly target the domestic market, production plans were generally stable, and downstream demand showed no significant changes, maintaining the overall supply-demand pattern. In the short term, some cascade utilization producers, anticipating future price declines, continued to focus on just-in-time procurement, and prices are expected to remain stable or experience slight declines.