动力电池行业周报：2024年1-8月全球动力电池TOP10数据出炉，中国制造占据重要地位

Investment Rating - Investment rating: Recommended (maintained) [2] Core Viewpoints - The automotive market is experiencing continuous policy support, which is significantly contributing to the rapid growth of the new energy vehicle sector. In the first eight months of 2024, China's power battery cumulative installation reached 292.1 GWh, a year-on-year increase of 33.2% [2][50] - The market share of new energy vehicles in China reached 37.5% in the first eight months of 2024, with production and sales of 700.3 million and 703.3 million units, respectively, reflecting a year-on-year growth of 28.9% and 30.9% [2][48] - Chinese companies dominate the global power battery market, with six companies, including CATL and BYD, accounting for 65.1% of the total installed capacity [2][50] Summary by Sections 1. Upstream Materials - Industrial-grade lithium carbonate prices averaged 74,000 yuan/ton, up 2.1% from the previous week, while battery-grade lithium carbonate averaged 77,000 yuan/ton, also up 2.0% [7][8] - The price of lithium hydroxide continues to decline, with battery-grade prices averaging 68,500 yuan/ton [13][16] - The market for negative electrode materials remains stable, with prices holding steady at 33,000 yuan/ton [26][29] 2. Midstream Materials - The price of ternary materials (523 single crystal) is 110,300 yuan/ton, while the price for high-nickel 811 multi-crystal materials is 145,500 yuan/ton, which has decreased slightly [20][21] - The production of ternary materials is stable, with a slight increase in supply due to higher production schedules from some battery manufacturers [21][22] 3. Downstream Cells - The average price of square power cells (ternary) is 0.46 yuan/Wh, while for lithium iron phosphate cells, it is 0.37 yuan/Wh, both remaining stable [46] - In August 2024, the total production of power and other batteries reached 101.3 GWh, a year-on-year increase of 36.8% [47] - Cumulative sales of power batteries reached 448.8 GWh in the first eight months of 2024, reflecting a year-on-year growth of 25.5% [47]