Marubeni, Retriev form strategic partnership to develop new circular business for batteries
Marubeni Corp has entered into a strategic partnership agreement with battery recycler Retriev Technologies Inc in the United States to develop a new circular business for end-of-life lithium-ion batteries, the Japanese trader said on Wednesday February 17.
Two companies will develop a business model by which valuable metals recovered from end-of-life lithium-ion batteries can be reused.
They will also cooperate with a chemical maker that produces sulfate, battery precursors and cathodes for rechargeable batteries fused in both consumer products and electric vehicles. The name of this chemical maker has not been disclosed.
“Moving forward, the quantity of end-of-life lithium-ion batteries generated is expected to increase in line with lithium-ion batteries market growth driven by rapidly growing demand for electric vehicles. As continuous growth is expected for the lithium-ion batteries market, proper end-of-life lithium-ion batteries waste management is one of the most critical global challenges for improving the sustainability of the battery supply chain,” Marubeni said.
Fastmarkets’ weekly assessment for lithium carbonate 99.5% Li2CO3 min, battery grade, spot price range exw domestic China was rolled over at 65,000-70,000 yuan ($10,049-10,822) per tonne on February 11 due to the Chinese New Year holiday (February 11-17). In the previous assessment, the key battery raw material price surged 3.05% on February 4 from 63,000-68,000 yuan per tonne on January 28.
Fastmarkets’ assessment for cobalt sulfate 20.5% Co basis, exw China was also rolled over at 81,500-84,000 yuan per tonne for three pricing sessions on February 10-17. Ahead of the holiday break, the battery raw material price jumped 6.77% on February 5 from 76,000-79,000 yuan per tonne on February 3.
Fastmarkets’ assessment for nickel sulfate min 21%, max 22.5%; cobalt 10ppm max, exw China was rolled over at 33,500-34,000 yuan per tonne on February 12 and ahead of the holiday, the price was up by 500 yuan per tonne on February 5 from 33,000-33,500 yuan per tonne on January 29.