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Why did the previously bankrupt lithium iron phosphate battery recycling plant suddenly come back to life? It was because the price of lithium salts suddenly skyrocketed. "Zhao Xiaoyong told China Securities News reporters, because lithium iron phosphate batteries, unlike ternary lithium batteries, can recover cobalt and nickel in addition to lithium. Before the price of lithium salts rose, the recycling value of waste lithium iron phosphate batteries was very low, almost sold as scrap iron.

Sneak buying trend coefficient hanging upside down

What are the consequences of the influx of new entrants into the power lithium battery recycling industry, which has just started? Guangfa Securities asserts in its research report that the industry has entered a stage of horse racing and enclosure, leading to a deterioration of the competitive environment.

Li Ming introduced that the recycling price of waste power lithium batteries is determined based on the current prices of cobalt and nickel, multiplied by a certain discount coefficient. "At the lowest point last year, the recycling discount coefficient was 50% -60%, later increased to 70% -80%, and later increased to over 100%, recently reaching 106%. The price has been inverted, because the price of lithium salts in waste power lithium batteries has significantly increased

Another important reason for the significant increase in the discount coefficient for power lithium battery recycling, in addition to the soaring price of lithium salts, is that the competition has intensified due to the competition among thousands of companies competing for scraps.

The competition in the general industry is concentrated in the production and sales process of the backend, but the competition in the power lithium battery recycling industry is concentrated in the recycling process of the front-end. The amount of waste power lithium batteries that can be recycled determines the speed of the company's development. "Zhao Xiaoyong told a reporter from China Securities News that a large number of practitioners squeezed in in in a short period of time, causing the supply of waste power lithium batteries to be in short supply, and there is a trend of panic buying, with almost one price per day.

Especially, a large number of small workshop like companies have rushed into the ranks of buying waste lithium power batteries, making the already fierce competition even more disorderly.

Zhao Xiaoyong said that since 2018, the Ministry of Industry and Information Technology has released a total of three batches of companies that meet the "Industry Standard Conditions for Comprehensive Utilization of Waste Power Batteries in New Energy Vehicles", commonly known as the "white list" companies in the industry, totaling only 47. That is to say, the vast majority of the new influx of companies in 2021 are small workshop style companies.

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