Fastmarkets extends consultation on NCM/NCA black mass methodology, proposes changes to price names

The consultation was originally launched on February 25 and was open until March 25, with a decision due by March 30.

It has been extended to April 10. A decision on the consultation will be posted by April 15, 2026.

The consultation considers modifying quality parameters for black mass across Fastmarkets’ black mass methodologies to bring them in closer alignment with Chinese standards, together with questions on material origin, the naming of prices and consumer type.

In addition to the previously announced consultation on methodology, Fastmarkets also proposes changes to the names of the following prices:

MB-BMS-0012 Black mass, NCM/NCA, inferred, cif South Korea, $/tonne to:
Black mass, NCM, high cobalt, inferred, cif South Korea, $/tonne

MB-BMS-0013 Black mass, NCM/NCA, inferred, exw Europe, $/tonne to:
Black mass, NCM, high cobalt, inferred, exw Europe, $/tonne

These prices are part of the base metals physical prices, minor metals physical prices and industrial minerals physical prices packages.

Please send any questions or comments by April 10 to pricing@fastmarkets.com and metalsrecycling@fastmarkets.com. Please add the subject heading “Re: black mass methodology review.” Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.

Barring any feedback that will require an extension to the consultation, implementation will take place on April 22, 2026.

To see all Fastmarkets pricing methodology and specification documents, go to the Fastmarkets methodology page.