SMM January 30 News:
Overview of Imports: This statistical analysis is based on HS code 38249999, which includes recycled intermediate products such as 3824999996 (recycled black mass for lithium-ion batteries) and 3824999995 (crude nickel-cobalt hydroxide). Imports in October totaled 804 mt, while November imports reached 814 mt, up 1.24% MoM. Overall, black mass imports showed signs of stabilizing at a low level in November after pulling back in October. Although unfavorable factors such as the risk of returns due to excessive fluorine content (>0.4%) and extended port inspection cycles in October were gradually absorbed, overall customs declaration and purchasing sentiment remained cautious. As a result, the actual effective clearance volume in November did not see a significant rebound, remaining at a low level of around 800 mt.
Asia continued to dominate import sources in November, with Japan and South Korea, China, and Southeast Asia contributing the majority of import shares. Imports from Europe and the United States remained stable, and ternary pole piece black mass remained the primary type of black mass. Tariff rates stayed stable, with low import duties on black mass from certificate-of-origin countries, such as approximately 1.8% for South Korea, 4.3% for Japan, and zero tariffs for some Southeast Asian countries. Notably, China recently released its 2026 tariff adjustment plan, explicitly lowering import tariffs on recycled raw materials such as black mass. This favorable policy is expected to further reduce import costs for enterprises and positively boost the return of overseas resources and clearance enthusiasm in early 2026.
