SHANGHAI, Dec 20 (SMM) - Recently, Zhejiang New Era Zhongneng Technology Co., Ltd. and Jiangxi Ruida New Energy Technology Co., Ltd. and other leading lithium battery recycling enterprises successively issued announcement to settle the metal prices according to the SMM cobalt sulphate, nickel sulphate, and lithium carbonate price instead of the original pure metals prices (refined cobalt, refined nickel, and lithium metal).
The new benchmark of pricing is an important sign of the standardisation of the industry
Since 2022, as the lithium salt prices increased rapidly, the lithium battery recycling industry increased significantly. The contradictions of the pricing in the lithium battery recycling industry became more obvious. One of the contradictions is the choice of pricing benchmark. Due to the extreme nickel prices in March this year, the nickel metal market prevented the excessive disconnection between the nickel salt market. The cobalt market faced with the same problem. The prices of cobalt sulphate fell sharply due to the weak electronic and power battery markets while the prices of cobalt metal were relatively high. The excessive price spread led to the long-term losses of lithium battery recycling manufacturers, and most smelters produced hardly. The metal prices fluctuated due to uncertain factors such as the futures and market sentiments. It is difficult to meet the demand of the lithium battery recycling industry.
Leading enterprises took the lead to promote the new trend of pricing system
Previously, most recycling companies explored different pricing models to alleviate the high costs, but the results diverged. However, the new benchmark of the leading recycling companies provided a standardised and feasible reference for the industry.
The replacement of benchmark has become a trend. In order to facilitate the use of SMM salt prices by enterprises in the industry, we has launched a "Recycling Calculator" tailored for the recycling market to automatically bind SMM salt prices, which is free for everyone to use. SMM believe that with the continuous efforts of the industry, the problems that plague the industry will continue to be solved. SMM will continue to pay attention to subsequent market changes.
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