SMM Analysis: Wet Process Recycling Scrap Spot Price Trends for the Week of 2025.2.24-2025.2.28

[SMM Analysis] A Review of This Week's Scrap Spot Price Trends, 2025.2.24-2025.2.28

Wet Process Recycling This Week:

Supply Side: This week, with the continuous rise in nickel salt and cobalt salt prices, the prices of ternary and LCO black mass also continued to increase, prompting powdering plants and traders to further raise their psychological price levels. However, the coefficients of ternary and LCO black mass showed relatively small changes WoW. Taking ternary pole piece black mass as an example, most enterprises still maintain a certain level of safety inventory, and due to the long-term inversion of production costs and prices, enterprises have shown a cautious attitude toward accepting high-priced black mass, resulting in mediocre market transactions.

Demand Side: The recent price increases in cobalt salt and nickel salt have partially offset the costs of ternary and pure cobalt scrap for wet process plants. However, the wet process costs remain below the profitability line.