Power battery price increase letters are frequently issued, and some LFPs have risen 10% in March. There is still a possibility of price increases

According to the latest reports from industry research institutions, recent power battery companies have issued frequent price increase letters, and price increases caused by the shortage of upstream raw materials have begun to be transmitted downstream. It is reported that this round of battery price increases has begun to spread in the second and third-tier power battery companies, and the first-line power battery companies have not made any price increases for the time being. At present, the price adjustment range of some lithium iron phosphate batteries is about 5%-10%, and the price adjustment range of ternary batteries is about 5%. According to a power battery manufacturer, for general customers, the new price of LFP batteries has increased by 10%, and the price agreement with major customers is still under intense negotiation. It is expected that adjustments will be made in March, or more than 5%. The average price reported by other battery-grade lithium carbonates has returned to 80,000/ton, an increase of 21.2% from the previous average price of 63,000/ton; the quotation of power-type LFP materials is about 45,000/ton, compared with the fourth quarter of last year. 36,000/ton increased by 25%, and even the situation was not reported; lithium hexafluorophosphate recently reported a price as high as 150,000-160,000/ton. According to a report from the Zeng Duohong team of Soochow Securities on February 28, since the beginning of the year, the upstream prices of cobalt, lithium, nickel, copper, and lithium hexafluorophosphate have continued to rise. The current price of metal cobalt is 400,000/ton, lithium carbonate is 80,000/ton, and nickel 145,000/ton, hexafluoride 165,000/ton, the positive electrode is rising, the price of the battery or the price increase is brewing, and the supply chain is obviously tight. According to its calculations, if the price is fully transmitted, the cost of battery raw materials will rise by more than 15%. The battery factory is expected to digest part of it through the increase in capacity utilization, scale, increase in qualification rate and the application of CTP technology. If it is necessary to maintain profitability, Need to adjust the price. At present, the prices of two-wheeled vehicles, energy storage, and consumer batteries have risen, and the prices of power batteries may be adjusted in the future. Due to strong terminal demand and leading products in short supply, it is expected that the cost pressure of power batteries may be partly transmitted to the terminals. At the same time, domestic sales of electric vehicles in January were slightly better than expected, and sales growth in Europe slowed down, basically in line with expectations. The growth rate is expected to resume in March; the US electric vehicle policy may exceed expectations and become an important growth point in the world. Electric vehicles in China, Europe, and the United States are the year of the outbreak throughout the year, and are expected to exceed expectations. The global leader in electric vehicles and the leader in price flexibility are strongly recommended. The same day report from the Wang Ge team of CITIC Construction Investment also pointed out that the prices of diaphragms, electrolytes, and anodes were stable last week, with ternary cathode materials rising 2-7%, and cobalt tetroxide rising 17%. In the context of the industry's booming boom and the rising prices of front-end resources, we continue to be optimistic about the market performance of battery companies and battery material companies that have cost advantages such as resources and technological competitiveness. It should be pointed out that this round of power battery price increases may become a major uncertain factor for downstream new energy car companies. At the same time, due to the increase in raw material prices, some power battery companies have also begun to negotiate price increases with major downstream customers. However, the willingness of the car end to accept it is not strong, and the price increase negotiations between the two parties have fallen into a stalemate. Some car companies have begun to express their concerns, “This year they have high expectations for the growth of the new energy vehicle market. Once the price of power batteries rises, it will inevitably lead to an increase in terminal prices. There is still room for acceptance in the toB market, but there is still room for the toC market. The impact will be great, especially in the A00-class automotive market.” It is worth noting that the long-term order of battery materials is generally locked in about a quarter, and the next round of negotiations will begin immediately. Some material companies have begun price negotiations for head battery companies. And whether the head battery companies will adjust their prices in the future will directly affect the fluctuations of the entire domestic battery prices. However, some car company executives believe that the current round of material price increases is based on short-term fluctuations caused by market supply and demand imbalances. Prices increase and decrease. The supply system and market demand will eventually form a more balanced state, and the scale will increase the cost. Can drive the decline of battery costs, and the decline in power battery prices is still a major trend.