Latest Update in the SMM Battery Recycling Market

[SMM Tin Midday Review: SHFE Tin Fluctuates at Highs Under Pressure, Supply-Demand Deadlock Awaits Breakthrough]

This week, ferrous metals continued to rise initially before stabilizing, with most of the most-traded contracts completing the contract rollover. At the beginning of the week, the Central Ecological and Environmental Protection Inspection Team disclosed environmental issues in Tianjin and Hebei, with Tangshan in Hebei being singled out for unauthorized steel projects and additional capacity. Meanwhile, as December began, the two major domestic macro conferences were about to be held, strengthening market expectations and driving ferrous metals higher. In the latter part of the week, the SMM daily average hot metal output continued to decline, and raw material support weakened somewhat.

[SMM Tin Midday Review: Geopolitical Risks Including DRC Continue to Drive "Premium," High Tin Prices Expected to Persist in Short Term]

[SMM Tin Midday Review: Supply-Demand Tight Balance and Interest Rate Cut Expectations Resonate, SHFE Tin Futures Market Continues Overnight Strong Trend]

[ SMM Tin Midday Review: Tug-of-war between sellers and buyers intertwined with macro expectations SHFE tin breaks through 310,000 mark at midday ]

[SMM Tin Midday Review: SHFE Tin Retreats from Highs and Trades Under Pressure, Supply-Demand Standoff Awaits Macro Guidance]

[SMM Tin Midday Review: Supply-Demand Pattern in Tight Balance Coupled with Macro Tailwinds, SHFE Tin Breaks Through 310,000 Mark Strongly in Midday Trading]

Procurement volume in November increased by approximately 10-15% month-on-month, showing an overall active trend. The continuous release of downstream demand was the main driver: on one hand, most LFP battery hydrometallurgy recycling plants conducted large-scale hedging this month as lithium carbonate prices fluctuated due to supply-demand dynamics and individual funding issues. As a result, lithium carbonate maintained high production, and some enterprises planned to launch or expand production, driving the volume of recycled lithium chemicals to exceed 9,000 mt in October, up nearly 15% MoM. On the other hand, ternary hydrometallurgy plants saw increased procurement enthusiasm in early and mid-November as cobalt sulphate and lithium carbonate prices continued to rise, leading to a roughly 5% MoM increase in recycled nickel salt production and a 5% MoM rise in recycled cobalt salt output. Supply side, quotations from grinding mills and traders continued to rise alongside nickel, cobalt, and lithium chemical prices, with black mass prices also following the upward trend. Overall market trading sentiment was more heated compared to the previous month, particularly in the LFP recycling sector. Looking ahead, as end-user demand declines, procurement volume in November is expected to decrease slightly.

This Week's Recycling Event Progressed as Follows:

This Week's Recycling Event Progressed as Follows: