From an overall data perspective, at the end of August, the rigid demand in the second-life application market remained stable, with domestic and overseas markets receiving some support due to the policy transition period. In early August, the sales momentum of new energy vehicles gradually faded, but the overall market supply increased MoM, with the supply of end-of-life batteries remaining stable. The demand from end-use applications was mediocre, and it is expected that future demand growth will be limited. The previous rise in spot lithium carbonate prices was passed on to terminal battery cells, leading to a slight increase in battery cell prices, and second-life battery cell prices also rose slightly as a result. Recently, spot lithium carbonate prices have fallen, but the price transmission takes time, so second-life prices have remained unchanged recently. The overall market basically maintained a balance between supply and demand, with companies trading according to market conditions, and it is expected that the increase in second-life battery cell prices will be limited. Market transactions remained sluggish, with some second-life battery producers continuing to operate with low inventory, and purchases mainly driven by essential needs.
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