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Fastmarkets’ proposal follows initial feedback that market participants demand a price reference for black mass, referring to the remains of a battery pack after shredding and processing.

South Korea is one of the major importing nations of end-of-life (EOL) electric vehicle (EV) black mass, as well as a significant importer of EOL scrap batteries for processing into black mass within its growing domestic market.

Spot market trading for EOL EV black mass materials is more prevalent and more mature in Asian markets than it is currently in both Europe and North America, according to market participants. In China, while there is a large domestic black mass market, importing these materials is officially prohibited.

Fastmarkets’ South Korean black mass payable indicators will assess the payables for EOL EV black mass produced from nickel, manganese cobalt (NMC) and nickel cobalt aluminium (NCA) batteries. NMC black mass is the chemistry which is most prevalent in the South Korean spot market, according to market sources.

NMC and NCA black mass is usually priced according to the value of their nickel and cobalt content, with these components comprising the largest non-graphite material share and being high in value. Both nickel and cobalt are materials vital for making EV batteries and have become extremely strategic markets in recent years.

Read more at: https://www.fastmarkets.com/insights/proposal-to-launch-asian-black-mass-payable-indicators-pricing-notice