Hyundai Motor Group announced that it has signed a memorandum of understanding (MoU) with Zhejiang Huayou Recycling Technology, a subsidiary of China’s Huayou Cobalt, to jointly build an electric vehicle (EV) battery circular economy in Indonesia. Under the agreement, the two parties plan to collect battery scrap generated during production at HLI Green Power, the joint battery cell plant established by Hyundai Motor Group and LG Energy Solution in Indonesia. The scrap will be pre-treated at Huayou Recycling’s local facilities and crushed into “black mass,” a powder containing various metals, from which key minerals can later be extracted and reused in battery manufacturing.

[Toyota Tsusho and LG Energy Solution Plan to Establish a Joint Venture for Automotive Battery Recycling in North America] On June 19, Toyota Tsusho announced that it had reached an agreement with LG Energy Solution to establish a joint venture for automotive battery recycling in North Carolina, US. The newly established joint venture will operate a pre-processing business to crush and sort battery scrap, extracting valuable metals such as nickel, cobalt, and lithium. The goal is to establish a supply chain that recycles these materials into new battery production. The relevant facilities are expected to begin operations in 2026.

On June 10, 2025, the Ministry of Ecology and Environment (MEE) of the People's Republic of China officially announced the "Announcement on Matters Related to Regulating the Import Management of Recycled Black Mass Raw Materials for Lithium-ion Batteries and Recycled Steel Raw Materials".

SMM News on June 18: Today, the price of e-bike lead-acid battery scrap (external formation) polar plates is reported to be 19,000-19,200 yuan/mt. The demand in the battery market is average, and producers are maintaining a produce-based-on-sales strategy. Due to the relative pullback in lead prices, some enterprises are restocking on a need-based basis at lower prices. Additionally, as the traditional off-season is coming to an end, a small number of enterprises intend to increase their production plans in July, but actual production will still be based on changes in end-use consumption. 》Order to view historical SMM metal spot prices

Recently, to promote the recycling of renewable resources and standardize the import management of regenerated black mass raw materials for lithium-ion batteries and regenerated steel raw materials, the Ministry of Ecology and Environment, the General Administration of Customs, the National Development and Reform Commission, the Ministry of Industry and Information Technology, the Ministry of Commerce, and the State Administration for Market Regulation jointly issued the "Announcement on Matters Related to Standardizing the Import Management of Regenerated Black Mass Raw Materials for Lithium-ion Batteries and Regenerated Steel Raw Materials," which will come into effect on August 1, 2025.

[SMM Lead Morning Meeting Summary: Lead Ingot Supply Side Expected to Tighten Further, Monitor Price Changes of Mainstream Brand Lead-acid Batteries]...On the supply side, there are currently no signs of further expansion in the production cuts and suspensions by secondary lead smelters. Attention should be paid to the impact of maintenance work on primary lead for delivery brands in the middle and late of the month on supply and lead prices. On the consumption side, mainstream lead-acid battery brands have recently announced plans to raise prices, while other lead-acid battery producers are adopting a wait-and-see attitude. If the market accepts the price hikes by mainstream brands, there is a possibility of a slight price increase in tandem...

SMM June 6: After the holiday, supply in the scrap battery market showed no signs of easing. Scrap battery generation remained relatively small, with scarce supply dampening recyclers' purchase enthusiasm. Smelters received tight arrivals but generally lacked the ability to raise purchase offers due to huge losses. This week, the mainstream tax-exclusive e-bike lead-acid battery scrap price held at 9,900 yuan/mt, with some smelters considering price hikes amid urgent raw material shortages. Secondary crude lead smelters had limited supply, but lead alloy smelters' purchase demand remained relatively small due to weak orders. This week's enterprise offers showed secondary crude lead prices remained stable and gradually widened the gap with secondary refined lead prices, easing the inverted spread. 》Subscribe to view SMM metal spot historical prices

It is understood that from May 31 to June 6, 2025, the weekly comprehensive operating rate of lead-acid battery producers in the five provinces tracked by SMM was 60.39%, representing a significant drop of 10.06 percentage points WoW. From late May to early June, coinciding with the traditional Dragon Boat Festival in China, except for some ESS battery producers that maintained normal production due to full order books during the festival, most other producers generally took 1-3 days off during the Dragon Boat Festival, with a small number of producers even taking up to 5 days off, which dragged down the weekly operating rate of lead-acid battery producers. Among them, e-bike lead-acid battery scrap producers had the longest holiday, mainly due to the impact of the traditional off-season, coupled with the substitution and competition from new-type batteries such as lithium batteries and sodium-ion batteries. Producers reduced inventory pressure by taking holidays and cutting production. Next week, as the holiday ends, the weekly operating situation of lead-acid battery producers is expected to recover somewhat.

[Approval Announcement for 20,000 mt Recycling and Utilisation in Jiangxi] Recently, Ganzhou High-Tech Industrial Development Zone in Jiangxi Province issued a notice of the proposed approval of the Environmental Impact Report for the "Comprehensive Utilisation Project for Annual Treatment of 20,000 mt of Battery Scrap by Tengyuan Cobalt in Ganzhou". Upon completion, the project will have the capacity to process 20,000 mt of battery scrap annually. The project uses spent ternary lithium-ion battery cells, 3C battery cells, and cathode pole pieces as raw materials, and through a series of processes, recycles battery materials (black mass), copper powder, aluminium powder, and iron sheets.

As the lead industry continues to develop, the supply imbalance in the raw material sector is intensifying. In terms of lead concentrates, the tight supply situation is worsening. Additionally, due to the historically relatively high prices of gold and silver, smelters' demand for high-grade lead concentrates has increased. Meanwhile, the domestic processing fees for lead concentrates have continued to hit new lows. In terms of scrap, according to the SMM survey, in recent years, the generation of scrap batteries has not matched the processing capacity for scrap batteries. The capacity of secondary lead is in a state of oversupply. In 2024, the new capacity of secondary lead continued to increase, while the domestic supply of scrap was limited. Moreover, there was a loss of scrap in exports. Coupled with the traditional off-season in the lead-acid battery market in the first half of the year, with battery scrap volumes at a low point for the year, the supply imbalance has intensified. To enable industry peers to have a clearer and more intuitive understanding of the global market distribution of lead ingot raw material industries, SMM, in collaboration with Zhejiang Gang Lianjie Logistics Technology Co., Ltd., is proud to launch the "2025 Global Lead Ingot Raw Material Enterprise Resource Distribution Map". After annotation and typesetting, it will be printed and distributed to upstream and downstream customers in the industry. It aims to provide an authoritative, comprehensive, and professional overview of the lead ingot raw material industry, establish a communication bridge between enterprises across the industry chain, break down information barriers between upstream and downstream sectors, and jointly promote the healthy and green development and upgrading of the lead industry. Zhejiang Gang Lianjie Logistics Technology Co., Ltd., is an AAAA-level comprehensive service logistics enterprise affiliated with the Ningbo Zhoushan Port Group system. It is a joint venture established by Zhejiang Seaport Logistics Group and Box Technology (Shenzhen) Co., Ltd. It has obtained China Quality Management System Certification, with the number: 00124Q37205ROM/3302, and is a state-controlled enterprise. Relying on the brand advantages of Ningbo Zhoushan Port, the company adheres to the principle of taking Ningbo Zhoushan Port as the main body and closely revolves around the strategic business layout of Ningbo Zhoushan Port to provide customers with modern and comprehensive logistics services. The company has opened an Anhui branch in 2023, established a Malaysian subsidiary, and will open a German subsidiary in Wilhelmshaven, Germany, by the end of 2024. Currently, the Thai company has completed its registration and is in further planning. The company can provide logistics services centered on Malaysia and Thailand, radiating to various Southeast Asian countries, including but not limited to door-to-door cargo pick-up, warehouse (warehousing and in-warehouse operations), ocean freight booking, import and export customs clearance, etc. In terms of business performance, the company has ranked first in import agency volume at Ningbo Port for two consecutive years (2023 and 2024) and first in non-ferrous metal agency volume at Ningbo Port. It has also been honored with the "Top Ten Import Freight Forwarding Enterprises" award for two consecutive years in 2023 and 2024. Domestically: In terms of import business, the company provides full-chain import logistics services, covering international multimodal transport, port customs clearance, bonded customs declaration, transportation, warehousing, etc., covering almost all bulk raw materials: such as non-ferrous metals, plastic pellets, agricultural and sideline products, pulp, grain, recycled materials, hazardous goods, cold chain, bulk cargo, petroleum and petrochemical products, food, minerals, etc. Overseas: Zhejiang Gang Lianjie (Malaysia) Logistics Technology Co., Ltd. (a subsidiary), located in Selangor, Malaysia, 20 kilometers away from Port Klang West, 23 kilometers away from Port Klang North, and 34 kilometers away from the Port Klang Bonded Free Trade Zone. It is mainly engaged in international freight forwarding for imports and exports, with Malaysia as the center to radiate throughout Southeast Asia, and carries out related businesses. Contact Information Chen Dong (Imports) 13901649539 Zhu Yong, Overseas Project Leader and General Manager of the Malaysian Subsidiary 18501669898 Chen Lei (Imports) 13857876948 Shi Qihao (Imports) 13777188184 Contact Person for SMM Map Co-production Tian Cheng 19521491689 tiancheng@smm.cn