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  【SMM Analysis】June Echelon Utilization Battery Market: Stable Prices Amid Sluggish Activity

  Analysis of overall data indicates that in June, the energy storage sector saw weakened support from rigid demand due to the phase-out of mandatory energy storage allocation policies. The automotive sales surge driven by earlier auto shows has gradually subsided, with insufficient consumption momentum in the end market. Terminal demand is expected to show no significant growth. In terms of market transactions, Grade B prices in the echelon utilization market remained generally stable, while participants largely adopted a wait-and-see approach. On the supply side, echelon battery cells remain relatively abundant, while downstream demand shows no notable change. Overall, supply and demand remain largely balanced. Market activity in June remained subdued, with some echelon manufacturers maintaining essential procurement strategies due to expectations of future price declines.

• Short-term theoretical alumina profits remain high, but with prices pulling back, profit margins are expected to narrow.

• BYD's YANGWANG begins delivering U7 flagship sedan

  On June 13, YANGWANG, a premium new energy vehicle brand under BYD, officially commenced deliveries of its large-sized luxury sedan, the YANGWANG U7.

• [SMM Daily Review of Hydrogen Cost] 20250613

• 【SMM Analysis】A Review of Scrap Spot Price Trends This Week (June 12, 2025 - May 16, 2025)

  This week in wet process recycling: Recycled materials: Cobalt sulfate prices continued to decline this week, nickel salt prices remained stable, while lithium salt prices saw a minor rebound. Recovery rates for ternary and lithium cobalt oxide (LCO) black mass continued to fall, while lithium content in lithium iron phosphate (LFP) black mass remained temporarily steady. Taking ternary black mass as an example: Currently, due to the prolonged low price of lithium carbonate, the revenue contribution from lithium is lower than that from nickel sulfate and cobalt sulfate under these conditions. Therefore, most ternary wet-process enterprises now price the nickel-cobalt and lithium recovery rates in ternary black mass separately. For instance, the current recovery rate for nickel-cobalt in ternary electrode sheet black mass is 74-76%, while the lithium recovery rate is 71-74%.