Latest Update in the SMM Lithium-ion Battery Market

JPMorgan Remains Bullish on Global Copper Prices Due to Expected Demand Increase. On Monday, March 24, JPMorgan expressed optimism about the global copper market, forecasting that copper demand will continue to grow through 2025. The firm's global metals and mining team noted that LME copper futures have risen 15% year-to-date, reaching approximately $10,000 per mt.

Recently, driven by the rush for installations influenced by the policy window period for distributed projects, the prices of distributed PV modules have continued to rise. As of March 25, the average spot price of Topcon module-182mm (distributed) increased to 0.773 yuan/watt, up by 0.128 yuan/watt from the low of 0.645 yuan/watt on February 14, a rise of 19.84%. The average spot price of Topcon module-210mm rose to 0.778 yuan/watt, up by 0.133 yuan/watt from the low of 0.645 yuan/watt on February 14, a rise of 20.62%. The average spot price of Topcon module-210R also reported 0.778 yuan/watt, up by 0.133 yuan/watt from the low of 0.645 yuan/watt on February 14, a rise of 20.62%. Regarding the reasons for the continuous price increase of distributed modules recently, SMM believes it is mainly driven by the rush for installations of commercial and industrial projects during the 430 and 531 periods, with active downstream procurement and a surge in demand for distributed modules, leading to tight module delivery in the market.