SMM

SHANGHAI, May 19 (SMM) - The recycling volume of LFP battery scrap rose merely 1% MoM to 24,256 mt in April. In April, battery scrap-based smelters mainly took outsourcing orders from battery cell makers. After lithium battery scrap prices rebounded, some battery cell factories preferred to sell battery scrap at higher prices instead of outsourcing them to smelters for processing. Due to the rapid rebound in lithium battery scrap prices, traders either held back cargoes in hopes of even higher prices in the future or raised offers considerably. Smelters, expecting the price rally to be unsustainable, restocked only as needed.