SHANGHAI, APR 26 (SMM) - In early April, the Ministry of Industry and Information Technology issued the YS-T 1460-2021 industry standard, announcing that from April 1, 2022, the crude Nickel-cobalt hydroxide will be newly added to the non-ferrous metal industry standard. And the crude Nickel-cobalt hydroxide products obtained from the pretreatment of lithium battery scrap containing nickel and cobalt can be legally imported from overseas with the customs code of 75012010.
Since 2022, new energy vehicles have maintained a rapid development trend, and the price of lithium battery raw materials also remained high. The supply guarantee was still the main theme of the industry, so it is imperative to tap the potential of recycling.
the Ministry of Industry and Information Technology also issued a document saying that the development progress of domestic lithium, nickel and other resources should be moderately accelerated. At the same time, the recycling system of power batteries should be completed, technical breakthroughs such as efficient disassembly and recycling should be supported, and the recycling rates and resource utilization efficiency should be continuously improved. In this context, the volume of lithium battery recycling has increased significantly year-on-year. According to SMM research, in the first quarter of 2022, China contributed 6843, 5856 and 2780 mt in metal content of nickel, cobalt and lithium respectively through the recycling of lithium battery scraps (including battery packs, cells, plates, black powder and other scraps). The method of urban mines development to enable the production of downstream lithium battery materials has achieved initial results.
Therefore, in the context of overall development of urban mines to meet downstream production, legalizing the import of primary processed products of lithium battery scraps containing nickel and cobalt will enrich the source of lithium battery raw materials in China and further ensure the guarantee system of key raw materials such as lithium, nickel and cobalt.
It is reported that domestic leading lithium battery recycling enterprises have arranged battery recycling business in Indonesia. For example, the Puqing recycling battery recycling project arranged by Guangdong Brunp Recycling Technology in Indonesia, transported the crude nickel-cobalt hydroxide, manganese hydroxide, lithium salt and other key raw materials obtained from the primary processing of battery scraps back to China, becoming another key overseas raw material layout after the laterite nickel ore project of QMB New Energy Materials in Indonesia. It will form a "primary + secondary" double-chain guarantee mode of overseas resource.
[Disclaimer: The above representation and data is based on market information SMM believes to be reliable at the time of acquiring as well as the comprehensive assessment by SMM research team, and any and all information provided in this article is for reference only. This article does not constitute a direct recommendation for investment or any decisions in any form and clients shall act on their own discreet and any decisions made by clients are not within the responsibility of SMM.]
