The lithium battery copper foil market, which has experienced a prolonged period of cooling, is gradually warming up. Recently, NuoDe Co., Ltd. announced that its wholly-owned subsidiary Shenzhen BaiJiaDa signed a supply guarantee framework agreement with domestic lithium battery manufacturers. BaiJiaDa commits to supplying 45,000 tons of copper foil products to the latter in 2025. NuoDe stated that the smooth execution of the agreement is expected to have a positive impact on the company's operating performance in 2025.
It is understood that NuoDe Co., Ltd. is one of the first batch of material suppliers in China to achieve large-scale production of 4.5μm electrolytic copper foil. Currently, the proportion of ultra-thin products below 6μm in the company's shipments has significantly increased, among which 4μm lithium battery copper foil products have formed stable sales, and 3.5μm and 3μm ultra-thin lithium battery copper foils have also been produced in batches.Public information shows that this is the second order the company has received in the past six months. In September last year, NuoDe announced it had secured a copper foil procurement designation from Indian battery manufacturer Exide EnengySolutions Limited, providing battery copper foil products to the latter, with an estimated transaction amount not exceeding 200 million yuan in 2025.Besides NuoDe, Battery China noted that at the beginning of this year, Guoxuan High-Tech reached a long-term supply agreement for 2025 with DeFu Technology, under which DeFu will provide copper foil products to Guoxuan. DeFu stated it would continue to provide high-quality products and the best technical solutions to Guoxuan, sharing the results of new product research and development together.Not only are there signs of recovery in orders, but copper foil prices are also rebounding from the bottom, and the operating rates of copper foil manufacturers are steadily increasing.
The market may enter an upward channel
The market may enter an upward channelThe market may enter an upward channelSince the fourth quarter of 2024, the price of battery copper foil has maintained a relatively long period of growth. Industry data shows that in December last year, the overall price of 6μm lithium battery copper foil was maintained at around 90,000 yuan/ton. By early March this year, this price further broke through 95,000 yuan/ton and continued to rise.Since the fourth quarter of 2024, the price of battery copper foil has maintained a relatively long period of growth. Industry data shows that in December last year, the overall price of 6μm lithium battery copper foil was maintained at around 90,000 yuan/ton. By early March this year, this price further broke through 95,000 yuan/ton and continued to rise.
In tandem with the market prices of copper foils, there has been an improvement in manufacturers' production rates. An investor asked on an interactive platform to Delf Technology: Has the processing fee for the copper foil industry recently bottomed out and started to recover? What is the current level of production rate? Delf Technology responded that its lithium battery copper foil production line is currently operating at full capacity.In tandem with the market prices of copper foils, there has been an improvement in manufacturers' production rates. An investor asked on an interactive platform to Delf Technology: Has the processing fee for the copper foil industry recently bottomed out and started to recover? What is the current level of production rate? Delf Technology responded that its lithium battery copper foil production line is currently operating at full capacity.
Regarding the price trend of copper foil, Delf Technology stated that the industry has recently proposed a reasonable adjustment of copper foil product prices to prevent "inwardly competitive" vicious competition and maintain the healthy, stable, and sustainable development of the copper foil industry.Regarding the price trend of copper foil, Delf Technology stated that the industry has recently proposed a reasonable adjustment of copper foil product prices to prevent "inwardly competitive" vicious competition and maintain the healthy, stable, and sustainable development of the copper foil industry.
Another copper foil manufacturer, Jiayuan Technology, analyzed that in recent years, the rapid expansion of the copper foil industry has led to severe internal competition, resulting in overcapacity, oversupply, and intense price competition. This has caused a significant drop in the processing fees for copper foils. Currently, the processing fees have hit rock bottom, and some products have seen a slight recovery in their processing fees.Another copper foil manufacturer, Jiayuan Technology, analyzed that in recent years, the rapid expansion of the copper foil industry has led to severe internal competition, resulting in overcapacity, oversupply, and intense price competition. This has caused a significant drop in the processing fees for copper foils. Currently, the processing fees have hit rock bottom, and some products have seen a slight recovery in their processing fees.
"The entire copper foil industry has experienced losses for multiple quarters, facing considerable operational pressures and a strong desire for price increases. We believe that as the operation rate of the copper foil industry continues to warm up in 2025, the processing fees for copper foils are expected to improve marginally," an industry institution pointed out in a research report."The entire copper foil industry has experienced losses for multiple quarters, facing considerable operational pressures and a strong desire for price increases. We believe that as the operation rate of the copper foil industry continues to warm up in 2025, the processing fees for copper foils are expected to improve marginally," an industry institution pointed out in a research report.
As battery manufacturers finalize their supply chain annual quotas for 2025, the first phase of copper foil price increases is gradually being realized. "We are optimistic about the quarterly increase in demand and the continuous iteration of new technologies, which will drive the continuous recovery of the industry's operation rates. The leading manufacturers' operation rates are expected to enter a more saturated state, further unleashing the potential for price increases," the aforementioned institution believes that the unit profitability of the copper foil industry chain may gradually enter an improvement channel in the first quarter of 2025, with the profit center expected to move upward.As battery manufacturers finalize their 2025 supply chain annual quotas, the first phase of copper foil price increases is gradually being realized. "We are optimistic about the quarterly recovery in demand and the continuous iteration of new technologies, which will drive the utilization rates of the industry chain to continue to recover. The utilization rates of leading manufacturers are expected to enter a more saturated state, further unleashing the potential for price increases," the aforementioned institution believes that the unit profitability of the copper foil industry chain may gradually enter an improvement channel in the first quarter of 2025, with the profit center potentially moving upward.
Technological advancements open up market space
Technological advancements open up market space Technological advancements open up market space
Driven by the downstream new energy vehicle industry's demand for improvements in range, charging speed, and lifespan, the trend towards thinner, higher energy density power batteries is evident, pushing copper foil manufacturers to continuously improve product performance. Driven by the downstream new energy vehicle industry's demand for improvements in range, charging speed, and lifespan, the trend towards thinner, higher energy density power batteries is evident, pushing copper foil manufacturers to continuously improve product performance.
"The company has developed high-end lithium-ion copper foils with more than twice the tensile strength and elongation at the same thickness, which can maximize the cycle stability of silicon anode batteries." DeFu Technology revealed that it has established deep strategic partnerships with multiple customers. This product is now being stably delivered in bulk for high-end mobile phones and drone projects, and is expected to see significant growth in the power battery sector by 2025. "The company has developed high-end lithium-ion copper foils with more than twice the tensile strength and elongation at the same thickness, which can maximize the cycle stability of silicon anode batteries." DeFu Technology revealed that it has established deep strategic partnerships with multiple customers. This product is now being stably delivered in bulk for high-end mobile phones and drone projects, and is expected to see significant growth in the power battery sector by 2025.
According to Zhongyi Technology, the company is actively promoting the research and development of high-strength, high-elongation, HDI copper foils, and high-frequency, high-speed premium copper foil products to enhance its core competitiveness. Currently, 6μm ultra-thin lithium-ion copper foil has become the company's mainstream product, while 5μm and 4.5μm extremely thin lithium-ion copper foils have achieved mass production and sales. The R&D of 6μm medium-strength, high-elongation copper foil has been completed and is being delivered in batches.According to Zhongyi Technology, the company is actively promoting the research and development of high-end copper foil products such as high-anti, high-elongation, HDI copper foils, and high-frequency, high-speed ones, in order to enhance the company's core competitiveness. Currently, 6μm ultra-thin lithium battery copper foil has become the main product of the company, with 5μm and 4.5μm extremely thin lithium battery copper foils achieving mass production and sales. The R&D of 6μm medium-strength, high-elongation copper foil has been completed and is being shipped in batches.
It is worth noting that, with the increasing demands for thinner current collectors and cost reduction, and the rapid development of solid-state battery technology, the industrialization process of composite copper foil is accelerating, and it will gradually replace traditional copper foil in the future. Li Yongwei, Chairman of Anmet Technology, pointed out that composite copper foil has a "metal-polymer material-metal" sandwich structure. Compared to traditional electrolytic copper foil, lithium batteries made using composite copper foil as the negative electrode current collector have advantages such as lower cost, higher safety, longer life, and higher energy density.It is worth noting that, with the increasing demands for thinner current collectors and cost reduction, and the rapid development of solid-state battery technology, the industrialization process of composite copper foil is accelerating, and it will gradually replace traditional copper foil in the future. Li Yongwei, Chairman of Anmet Technology, pointed out that composite copper foil has a "metal-polymer material-metal" sandwich structure. Compared to traditional electrolytic copper foil, lithium batteries made using composite copper foil as the negative electrode current collector have advantages such as lower cost, higher safety, longer life, and higher energy density.
From a process perspective, composite copper foil can significantly reduce material costs and achieve cell weight reduction. Li Yongwei analyzed that when the yield rate reaches around 95%, the composite current collector (composite copper foil) can realize a cost reduction of 20%-30% compared to traditional current collectors. It is revealed that Anmet Technology's composite current collector products have gained market recognition, and the company has become an important supplier to several leading domestic battery enterprises and has started to layout the international market.From a process perspective, composite copper foil can significantly reduce material costs and achieve cell weight reduction. Li Yongwei analyzed that when the yield rate reaches around 95%, the composite current collector (composite copper foil) can realize a cost reduction of 20%-30% compared to traditional current collectors. It is revealed that Anmet Technology's composite current collector products have gained market recognition, and the company has become an important supplier to several leading domestic battery enterprises and has started to layout the international market.
It is noteworthy that composite copper foil can be used not only in the manufacture of liquid lithium batteries but also in semi-solid and all-solid lithium battery fields. According to Jie Mei Technology, currently, the company's copper foil products are being applied in many semi-solid battery projects that have already been put into operation. Norden also revealed that the company has developed a batch of current collector products suitable for solid-state batteries, providing material support for the multi-route development of solid-state batteries.It is noteworthy that composite copper foil can be used not only in the manufacture of liquid lithium batteries but also in semi-solid and all-solid lithium battery fields. According to Jie Mei Technology, currently, the company's copper foil products are being applied in many semi-solid battery projects that have already been put into operation. Norden also revealed that the company has developed a batch of current collector products suitable for solid-state batteries, providing material support for the multi-route development of solid-state batteries.
Fangzheng Securities' research report believes that under a neutral forecast, the demand for composite copper foil in 2025 will reach 1.72 billion square meters, corresponding to a market space of 9.47 billion yuan; by 2030, the demand for composite copper foil could reach 25.6 billion square meters, corresponding to a market space of 83.15 billion yuan. Under an optimistic scenario, assuming global lithium battery demand reaches 1,722GWh and 5,690GWh in 2025 and 2030 respectively, the market space for composite copper foil would be 18.26 billion yuan and 124.65 billion yuan, respectively.
According to the research report by Founder Securities, under a neutral forecast, the demand for composite copper foil will reach 1.72 billion square meters in 2025, corresponding to a market size of 94.7 billion yuan; by 2030, the demand for composite copper foil could reach 25.6 billion square meters, with a corresponding market size of 831.5 billion yuan. Under an optimistic scenario, assuming global lithium battery demand reaches 1722GWh and 5690GWh in 2025 and 2030 respectively, the market space for composite copper foil would be 182.6 billion yuan and 1246.5 billion yuan, respectively.
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