This week, ternary cathode material prices edged slightly lower, though the overall change remained limited. On the raw material front, cobalt sulfate prices held steady, manganese sulfate saw a modest increase, while nickel sulfate declined slightly. Lithium carbonate and lithium hydroxide prices also softened. Spot lithium salt prices are currently range-bound, with the future trend still uncertain. Further guidance from overseas supply-side developments remains to be monitored. On transaction activity, payable levels for EV market orders showed no notable changes recently. In the consumer and e-mobility markets, some battery cell manufacturers conducted batch price-linked restocking during this week's period of low-range lithium salt price fluctuations, resulting in slightly more active transaction activity compared to the previous week. On the demand side, the domestic EV market showed modest recovery, though the increase was limited, and manufacturers remain cautious about future production schedules. Demand in the e-mobility market remained relatively subdued, with production still largely based on sales orders and need-based procurement. On overseas orders, after the export rush period ended in April, order volumes declined, though the magnitude of the decline was smaller than previously expected. Based on current conditions, overall industry production in April is still expected to see a certain degree of decrease compared with March.

This week, the market prices for cascade-use B-grade battery cells remained generally stable. Cost side, lithium carbonate prices continued their downward trend, nickel sulphate prices edged down slightly, and only cobalt sulphate prices held firm, with overall cost support weakening. Supply side, battery cell manufacturers maintained a steady shipments pace with no significant increase, and market supply remained relatively stable. Demand side, energy storage continued to be the core market driver, but as procurement standards kept rising, B-grade battery cells, constrained by quality compliance limitations, struggled to enter the mainstream demand market, with A-grade battery cells becoming the absolute procurement preference. Among them, standard energy storage high-demand models such as 314Ah and 280Ah saw tight supply and intense competition for goods, with prices continuing to be pushed higher, while B-grade battery cells, affected by limited compliance space, maintained largely stable prices with no notable fluctuations.

Agratas, the global battery arm of the Tata Group, has reached a major milestone at its Sanand facility in western India by completing the steel framework, bringing the lithium-ion battery plant closer to becoming operational. The company plans to begin production in 2027. In its initial phase, the plant is designed to deliver an annual capacity of 20 GWh. Once operational, it will manufacture advanced battery cells for electric vehicles and energy storage systems.

'Agratas', the global battery business of the Tata Group, has completed the steel frame for its battery manufacturing facility in Sanand, India, marking a major milestone toward its 2027 production target. The first phase of the project features an annual production capacity of 20 GWh, focusing on advanced battery cells for electric vehicles and energy storage applications. Executed by Tata Projects Ltd., the massive structure spans 105,000 square meters and utilized over 24,000 tonnes of steel. The company is now pivoting towards developing the necessary systems, processes, and a skilled workforce to deliver world-class batteries to the global market.

At present, battery cell capacity for energy storage in China has entered a state of broad-based undersupply, with order schedules for energy storage battery cells at some top-tier enterprises even extending to the end of Q1 2027. Affected by this supply-demand gap, China’s energy storage battery cell segment is ushering in a new wave of capacity expansion, with many enterprises announcing large-scale expansion plans.

As production order fully resumed after the Chinese New Year, the sodium-ion battery industry chain saw a strong recovery in March. Production across the four major segments—cathode, anode, electrolyte, and battery cell—posted substantial growth both YoY and MoM, with industry prosperity rebounding markedly.

Recently, CALB announced on its official account that it had completed the signing of an agreement with a Japanese energy storage developer for a project with a scale of 380 MWh. Under the agreement, CALB will deliver its “Zhijiu” series ESS batteries to the Japanese client. This batch of products will be equipped with the company’s independently developed core battery cells, as well as liquid-cooling heat dissipation technology and an intelligent BMS management system, to meet the project’s practical needs for energy storage and dispatch.

This week, the overall second-life battery market for lithium battery Grade B products remained stable, while prices for warehouse A and Grade A products rose. On the cost side, lithium carbonate first increased and then declined, with evident fluctuations; nickel sulphate edged down slightly, while cobalt sulphate prices remained stable. On the supply side, battery cell capacity continued to be released, the EV sector carried out orderly stockpiling, demand in the ESS sector remained robust, and order shipments stayed at a high level. On the demand side, following the implementation of the new power battery regulations on April 1, the exclusive concept of second-life application was removed and uniformly brought under comprehensive utilization supervision, with strict control over the circulation of non-compliant products; the market showed structural divergence, with average demand from the EV sector, but strong demand for compliant orders in energy storage and outside China. In terms of product-grade price spreads: quotations for leading Grade A products with warranties approached those of new battery cells, while circulation of recycled materials and Grade B products remained weak and prices held flat, as they struggled to meet compliant procurement standards.

[SMM Lithium Battery Electrolyte Market Weekly Review: Electrolyte Prices Remained Temporarily Stable This Week (2026.3.30-4.2)] From March 30 to April 2, 2026, electrolyte prices remained temporarily stable. Subsequent price trends will still need to focus on changes in upstream raw material prices

This week, LCO market prices remained broadly stable overall. Affected by slight fluctuations in lithium carbonate prices, LCO prices also saw some corresponding adjustments, but the overall range remained limited. Demand side, the impact of chip shortages on the consumer electronics market exceeded previous market expectations. In addition, battery cell manufacturers currently had relatively ample raw material inventory, and their willingness to proactively restock remained weak in the short term, with no clear recovery in procurement pace. At present, market participants generally maintained a wait-and-see stance, and transactions were mainly driven by rigid-demand orders executed according to established plans. In the short term, LCO prices are expected to remain stable overall, and attention should be paid to changes in orders and procurement plans at various companies. Wang Cong 021-51,666,838 Ma Rui 021-51,595,780 Feng Disheng 021-51,666,714 Lv Yanlin 021-20,707,875 Zhou Zhicheng 021-51,666,711 Zhang Haohan 021-51,666,752 Wang Zihan 021-51,666,914 Wang Jie 021-51,595,902 Xu Yang 021-51,666,760 Yang Lianting 021-51,595,835 Wang Zhaoyu 021-51,666,827