动力电池行业周报：五部门联合出台《推动电动自行车以旧换新实施方案》

Investment Rating - Investment rating: Recommended (maintained) [2] Core Viewpoints - The overall industry outlook remains positive, with a focus on the upward trend in upstream raw material prices, monthly sales, and the implementation of industry regulations [2][3] - The government has introduced a new scheme to promote the replacement of old electric bicycles, indicating the increasing importance of the electric bicycle industry [2][3] - The domestic new energy vehicle market continues to grow rapidly, supported by favorable policies, with a cumulative battery installation volume of 244.9 GWh from January to July 2024, representing a year-on-year increase of 32.8% [2][3] Summary by Sections Upstream Materials - Industrial-grade lithium carbonate averaged 72,000 CNY/ton this week, up 1.41% from last week, while battery-grade lithium carbonate averaged 75,000 CNY/ton, up 1.35% [8][9] - The supply of lithium carbonate is sufficient, with a slight increase in domestic production [11] - The average price of lithium hydroxide is 72,500 CNY/ton, down slightly from last week [14][15] Midstream Materials - The price of ternary materials remains stable, with the market price for NCM523 at 109,000 CNY/ton and NCM622 at 109,500 CNY/ton [19][20] - The negative electrode material market is characterized by high supply and stable prices, with a reference price of 33,138 CNY/ton [25][28] - Electrolyte prices remain unchanged, with the average price for lithium iron phosphate electrolyte at 18,300 CNY/ton [34][36] Downstream Cells - The average price of square power cells (ternary) is 0.46 CNY/Wh, remaining stable [47] - The cumulative production of power and other batteries reached 91.8 GWh in July 2024, with a year-on-year increase of 33.1% [48]