[SMM Analysis] Hydrometallurgy Recycling Market This Week: LFP Black Mass Prices Remained Firm, Ternary Black Mass Prices Were Temporarily Stable, 2026.3.30-2026.4.20

Published: Apr 2, 2026 18:22

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Raw material side, spot lithium carbonate prices began to rise this week, while cobalt sulphate and nickel sulphate prices remained temporarily stable.

SMM News, April 2:

Raw material side, lithium carbonate prices fluctuated this week, cobalt sulphate prices dropped slightly, and nickel sulphate prices were temporarily stable. This week, by ternary, LCO, and LFP material types, on the LFP hydrometallurgical side, taking LFP pole piece black mass as an example, the current price of LFP pole piece black mass was 6,450-6,850 yuan/mtu, with the transaction center continuing to rise WoW from last Thursday. As lithium carbonate futures and spot prices continued to rise on Monday, LFP black mass prices also rose slightly on Monday. As lithium chemicals prices fell from Tuesday to Thursday, and as the market was in a period of just-in-time procurement, LFP black mass prices were basically flat. On the ternary and raw material side, ternary hydrometallurgical enterprises have now fully resumed normal purchasing, but as nickel and cobalt prices changed relatively little and some enterprises still had certain inventory, the market was relatively sluggish this week on the ternary and pure cobalt scrap side, basically flat from last week.

SMM New Energy Research Team

Wang Cong 021-51666838

Ma Rui 021-51595780

Feng Disheng 021-51666714

Lv Yanlin 021-20707875

Zhou Zhicheng 021-51666711

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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