Spot prices for lithium iron phosphate (LFP) black mass and battery scrap rose during the week to Thursday November 13, driven by a sharp increase in Chinese lithium carbonate prices, sources told Fastmarkets.

Fastmarkets wishes to clarify details around the following aspects of the pricing methodology for MB-BMS-0014 Black mass, NCM/NCA, payable indicator, cobalt, max 5% moisture, exw USA, % payable Fastmarkets’ standard-grade cobalt price (low-end) and MB-BMS-0015 Black mass, NCM/NCA, payable indicator, nickel, max 5% moisture, exw USA, % payable LME Nickel cash official price.

Fastmarkets will apply moisture limits of maximum 5% on its black mass payables indicators across several of its markets following a one-month consultation period.

Global lithium-ion battery recyclers are grappling with a severe feedstock shortage, driving up competition for scrap and impacting production capacity. The situation is affecting pricing trends for black mass and battery metals across Europe, Asia and the US.

China's black mass import rules, effective August 1, may reshape global battery recycling by tightening high-grade material supply and altering trade patterns, benefiting some suppliers while challenging others.

Fastmarkets has corrected its MB-BMS-0015 Black mass, NCM/NCA, payable indicator, nickel, exw USA, % payable LME Nickel cash official price, which was published incorrectly on Wednesday, July 16.

Battery recyclers remain under pressure, with tight margins among black mass producers and refiners amid a host of challenges for the industry, according to delegates at Fastmarkets Lithium Supply and Battery Raw Materials Conference 2025, which took place in Last Vegas, Nevada, from June 23-26

The 2025 Fastmarkets Lithium Conference in Las Vegas highlighted critical issues shaping the battery supply chain, including lithium oversupply, funding struggles and the need for midstream investment. Discussions also emphasized the importance of interdependence with China and the challenges faced by recyclers amid policy uncertainty and market headwinds.

China is a key leader in lithium-ion battery recycling, implementing new national standards designed to strengthen supply chain security, improve efficiency and address increasing market demand by July 2025.

These new prices will complement Fastmarkets’ extensive suite of black mass payables indicators and prices across Asia, Europe and North America. The new launches take Fastmarkets’ total offering of black mass payables indicators and prices for black mass and EV battery scrap to 21 assessments. China is the world’s largest lithium-ion battery recycler, with more […]