Spot prices for lithium iron phosphate (LFP) black mass and end-of-life (EOL) battery scrap in China rose notably in the week ending November 13, reflecting stronger lithium carbonate values and constrained feedstock availability, according to industry sources.
Chinese lithium carbonate prices climbed after firm gains on the Guangzhou Futures Exchange and solid downstream demand from energy storage projects. Fastmarkets’ daily assessment for battery-grade lithium carbonate (99.5% min) on an ex-works domestic China basis was 85,000–87,900 yuan per tonne on November 13, up by around 1,900 yuan from the previous day and roughly 78,700–79,900 yuan higher than a week earlier.
This upswing supported a rise in LFP black mass prices, which trade on the basis of percentage lithium content. Deals were heard at 3,000 yuan per percent lithium, compared with 2,700–2,800 yuan the prior week. Fastmarkets’ weekly assessment for LFP black mass, delivered duty paid in China, stood at 2,800–3,000 yuan per percent lithium, up 200 yuan week on week. Market participants noted that LFP black mass values tend to be more sensitive to lithium price fluctuations than nickel-cobalt-manganese (NCM) black mass.
In contrast, NCM black mass transactions remained steady over the same period. Payables for nickel and cobalt were assessed at 73–74% delivered duty paid China, while lithium payables held at 72–73%. Support for these levels came from tightened cobalt supply following export quotas imposed by the Democratic Republic of the Congo, which lifted prices and encouraged Chinese recyclers to maintain purchasing activity.
Limited availability of spent batteries also lifted scrap prices. Prismatic LFP EOL batteries with aluminum casing traded at nearly 10,000 yuan per tonne EXW China, and prismatic NCM EOL batteries were heard at 30,000–32,000 yuan per tonne EXW. Many retired cells are diverted to secondary uses, further tightening supply for recycling operations.
Fastmarkets’ weekly price assessments for EOL battery scrap were 9,500–10,000 yuan per tonne for LFP and 29,800–32,000 yuan per tonne for NCM, both up modestly week on week.
Source: Fastmarkets
