SMM March 31 News: For Lithium battery recycling, the purchase volume of black mass by downstream hydrometallurgy recycling enterprises, up 48% MoM,

March 31, 2026: The average warrant price fell by $1/mt from the previous trading day and closed at $67/mt (price range: $62-72/mt); the average B/L price fell by $1/mt from the previous trading day and closed at $66/mt (price range: $60-70/mt); the average EQ copper (CIF B/L) price fell by $2/mt from the previous trading day and closed at $37/mt (price range: $30-44/mt), with quotations referring to cargoes scheduled to arrive from mid-April to early May. During the day, sellers remained active in making shipments, and offers for forward-month B/Ls were active. It was heard that a small volume of pyrometallurgy B/Ls arriving in mid-April was offered at $70/mt, quotation period (QP) May; EQ B/L offers for mid-April were heard at $45, EQ B/Ls arriving in mid-to-late April were offered at $45/mt, and B/Ls arriving in mid-May were offered at $55/mt. General ER copper warrants for delivery within the week were offered at $60/mt, quotation period (QP) May.

On March 27, the 2026 SMM (21st) Lead & Zinc Conference and Industry Expo, organized by SMM, wrapped up successfully at Howard Johnson Agile Plaza in Chengdu, Sichuan!

March 30, 2026: The average warrant price was unchanged from the previous trading day, closing at $68/mt (price range: $62-74/mt); the average B/L price was unchanged from the previous trading day, closing at $66/mt (price range: $60-72/mt); the average EQ copper (CIF B/L) price rose by $2/mt from the previous trading day, closing at $39/mt (price range: $34-44/mt), with quotations referring to cargoes arriving in April. At the beginning of this week, market offers shifted toward forward months, while suppliers' offers remained at elevated levels. It was heard that a small volume of pyrometallurgy B/L arriving in early April was offered at $60-65/mt, quotation period (QP) May; EQ B/L arriving in mid-April was offered at $40, and EQ B/L arriving in mid-to-late April was offered at $40-45/mt, with buyers counteroffering at $40/mt, all with quotation period (QP) May. General ER copper warrants deliverable within this week were offered at $60/mt, quotation period (QP) May.

In January 2026, SMM hydrometallurgy intermediate products imports reached 172,151 mt in physical content, up 5% MoM. In February 2026, SMM hydrometallurgy intermediate products imports reached 124,548 mt in physical content, down 28% MoM.

March 24, 2026: The average warrant price was unchanged from the previous trading day, closing at $52/mt (price range: $44-60/mt); the average B/L price was unchanged from the previous trading day, closing at $53/mt (price range: $45-61/mt); the average price of EQ copper (CIF B/L) was unchanged from the previous trading day, closing at $30/mt (price range: $25-35/mt), with quotations referring to cargoes scheduled to arrive from late March to mid-April. Intraday offers showed faint signs of continuing to rise, but transactions delivered mediocre performance. It was heard that a small volume of pyrometallurgy B/L arriving in late March was offered at $50-60/mt, QP April; EQ B/L arriving in late March and early April was offered at $35, while EQ B/L arriving in mid-to-late April was offered at $35/mt and traded at $30/mt, with QP available in both April and May. General ER copper warrants for delivery within the week were offered at $50/mt, QP April.