SHANGHAI, Mar 21 (SMM) - According to SMM research, in February 2023, a total of 46,806 mt of lithium battery scraps were recycled in China (including scrap in the form of battery, pole piece and black mass), up 94% MoM and 241% YoY. In detail, 20,356 mt of ternary battery scrap were recycled, accounting for 43% of the total; the volume of LFP battery scrap was 25,394 mt, accounting for 54%; the amount of LCO battery scrap stood at 1,056 mt, accounting for only 2%.
In February, the nickel-cobalt-lithium salt pricing model was mostly used in the procurement of ternary battery scrap. The discount rates of nickel, cobalt, lithium salts in the early stage were roughly the same, all in the range of 62%-65%. But as the prices of lithium carbonate fell sharply, the discount rate of lithium salt gradually decreased considering of the potential of a further fall in lithium carbonate prices, while the discount rates of nickel and cobalt salts changed only slightly. The salt-based pricing model has been widely promoted in the recycling market as smelters who adopted it can have stronger control over the costs of raw materials.
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