SMM

SHANGHAI, May 19 (SMM) - Lithium battery scrap prices continued to fall in the first half of April, but the decline slowed down, thus traders suspended shipments while waiting for prices to rebound. After inventories dwindled, some recycling companies intended to restock, but their counter offers were relatively low. With lithium carbonate prices in a downward spiral, LFP battery scrap recycling activities were muted.

However, in the second half of the month, battery scrap quotations rose after industrial-grade lithium carbonate prices bottomed out. Rising lithium prices encouraged traders to hike battery scrap and pole piece scrap prices significantly before the Labour Day holiday, far exceeding expectations of smelters. Lithium battery demand did not show strong recovery, while battery scrap purchase costs were increasing. Some hydrometallurgy smelters held back lithium salt to cope with rising battery scrap prices and depleted raw material inventories.

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