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He has a PhD in electrochemistry from the University of Nottingham.","https://www.linkedin.com/in/birdmatthew/",{"type":573,"content":574},"doc",[575,592,605,610,623,632,639,644,649,654,662,667,680,693,705,718,723,728,740,745],{"type":576,"attrs":577,"content":578},"paragraph",{"textAlign":49},[579,582,590],{"text":580,"type":581},"Low critical raw material prices led to lower ","text",{"text":583,"type":581,"marks":584},"black mass payables",[585],{"type":586,"attrs":587},"link",{"href":588,"uuid":49,"anchor":49,"target":49,"linktype":589},"https://source.benchmarkminerals.com/article/what-is-black-mass-and-how-is-it-priced?_branch_match_id=1544393610504524433&utm_source=facebook&utm_medium=share&_branch_referrer=H4sIAAAAAAAAA8soKSkottLXT0rNS87ITSzKzs3MSy1KzCnWSywo0MvJzMvWtywJCInIrsgx9U%2ByrytKTUstKsrMS49PKsovL04tsnXOKMrPTQUAEusdjkgAAAA%3D","url",{"text":591,"type":581}," in 2024, squeezing the already tight margins for battery recyclers.",{"type":576,"attrs":593,"content":594},{"textAlign":49},[595,597,603],{"text":596,"type":581},"Despite this, the overcapacity of black mass processing in Asia led to the ",{"text":598,"type":581,"marks":599},"region’s recyclers competing for North American",[600],{"type":586,"attrs":601},{"href":602,"uuid":49,"anchor":49,"target":49,"linktype":589},"https://source.benchmarkminerals.com/article/critical-mass-asian-demand-for-north-american-scrap-sees-recycler-prices-spike?_branch_match_id=1544393599377229037&utm_source=facebook&utm_medium=share&_branch_referrer=H4sIAAAAAAAAAwXBwQ2AIAwF0I3ghAcT48EBHMGAqZRAC%2Fkl8ebsvsdzDlu9T6Q3S0SVooTYzMUxXCta%2FTJr4CAtnGn%2FQA8BRfOV0F8jbAejC%2F26SmqmSAAAAA%3D%3D",{"text":604,"type":581}," and European black mass.",{"type":576,"attrs":606,"content":607},{"textAlign":49},[608],{"text":609,"type":581},"This meant minerals contained in the Western battery scrap pool were lost overseas as domestic recyclers struggled to compete with the more developed Asian players.",{"type":576,"attrs":611,"content":612},{"textAlign":49},[613,615,621],{"text":614,"type":581},"“The critical mineral price environment has proven economically challenging for recyclers, forcing some companies to cut production or slow investments in projects,” said ",{"text":616,"type":581,"marks":617},"Beatrice Browning",[618],{"type":586,"attrs":619},{"href":620,"uuid":49,"anchor":49,"target":49,"linktype":589},"https://source.benchmarkminerals.com/video/watch/the-outlook-for-north-americas-battery-recycling-industry",{"text":622,"type":581},", a recycling analyst at Benchmark.",{"type":576,"attrs":624,"content":625},{"textAlign":49},[626],{"type":627,"attrs":628},"image",{"id":49,"alt":629,"src":630,"title":49,"source":49,"copyright":49,"meta_data":631},"Margins for recyclers were squeezed in 2024","https://a.storyblok.com/f/287943243085208/8dc3a8bcb4/bm-black-mass-margins2x-1.png",{},{"type":633,"attrs":634,"content":636},"heading",{"level":635,"textAlign":49},4,[637],{"text":638,"type":581},"How have black mass payables evolved in 2024?",{"type":576,"attrs":640,"content":641},{"textAlign":49},[642],{"text":643,"type":581},"Black mass payables throughout the year followed trends in battery demand and developments in recycling capacity.",{"type":576,"attrs":645,"content":646},{"textAlign":49},[647],{"text":648,"type":581},"In the middle of the year, payables started to move downwards again.",{"type":576,"attrs":650,"content":651},{"textAlign":49},[652],{"text":653,"type":581},"“The momentum reversed as a growing lithium oversupply caused virgin market prices to drop,” said Frederick Bloomfield, a black mass price analyst at Benchmark.",{"type":576,"attrs":655,"content":656},{"textAlign":49},[657],{"type":627,"attrs":658},{"id":49,"alt":659,"src":660,"title":49,"source":49,"copyright":49,"meta_data":661},"In 2024, North American payables climbed 12 percentage points spurred by demand from Asian recyclers","https://a.storyblok.com/f/287943243085208/f66a2f4bde/bm-black-mass-payables-20242x-1.png",{},{"type":633,"attrs":663,"content":664},{"level":635,"textAlign":49},[665],{"text":666,"type":581},"How did battery demand impact the recycling market?",{"type":576,"attrs":668,"content":669},{"textAlign":49},[670,672,678],{"text":671,"type":581},"The falling raw material prices came on the back of lower than expected demand for electric vehicles. In the West especially, this led to ",{"text":673,"type":581,"marks":674},"significant pullbacks in gigafactory capacity",[675],{"type":586,"attrs":676},{"href":677,"uuid":49,"anchor":49,"target":49,"linktype":589},"https://source.benchmarkminerals.com/article/2024-sees-highest-gigafactory-capacity-cancellations-on-record?_branch_match_id=1544393589951639358&utm_source=facebook&utm_medium=share&_branch_referrer=H4sIAAAAAAAAA8soKSkottLXT0rNS87ITSzKzs3MSy1KzCnWSywo0MvJzMvWT8x1DvGyyMkK80%2ByrytKTUstKsrMS49PKsovL04tsnXOKMrPTQUA48FI70gAAAA%3D",{"text":679,"type":581},".",{"type":576,"attrs":681,"content":682},{"textAlign":49},[683,685,691],{"text":684,"type":581},"In Europe, this has led to ",{"text":686,"type":581,"marks":687},"several recyclers to push back or cancel their plans",[688],{"type":586,"attrs":689},{"href":690,"uuid":49,"anchor":49,"target":49,"linktype":589},"https://source.benchmarkminerals.com/article/europes-gigafactory-slowdown-impacting-recycling-plans?_branch_match_id=1544393632607702227&utm_source=facebook&utm_medium=share&_branch_referrer=H4sIAAAAAAAAA8soKSkottLXT0rNS87ITSzKzs3MSy1KzCnWSywo0MvJzMvWNzW0cM4qNYgoCUiyrytKTUstKsrMS49PKsovL04tsnXOKMrPTQUA%2B3wrvUgAAAA%3D",{"text":692,"type":581},". Northvolt’s collapse especially impacted the region with Stena Recycling laying off 60 staff and Revolt, Northvolt’s recycling arm, delaying plans.",{"type":694,"attrs":695},"blok",{"id":696,"body":697},"607427da-bfb6-488d-8144-6f6af771cc02",[698],{"id":699,"_uid":700,"type":701,"_editable":702,"component":703,"fixed_height":704,"use_fixed_height":50,"fixed_height_mobile":704,"fixed_height_tablet":704},"20876874","i-c7458dbf-3352-461d-97bd-32eefe332816","visualisation","\u003C!--#storyblok#{\"name\": \"ContentFlourish\", \"space\": \"\", \"uid\": \"i-c7458dbf-3352-461d-97bd-32eefe332816\", \"id\": \"\"}-->","ContentFlourish","",{"type":576,"attrs":706,"content":707},{"textAlign":49},[708,710,716],{"text":709,"type":581},"“With challenges surrounding securing feedstock for recycling companies across the world, many recycling companies are having to streamline processes to reduce costs,” Browning said. “One approach has been to generate battery chemical intermediates, such as mixed hydroxide precipitates, instead of ",{"text":711,"type":581,"marks":712},"battery chemicals",[713],{"type":586,"attrs":714},{"href":715,"uuid":49,"anchor":49,"target":49,"linktype":589},"https://source.benchmarkminerals.com/article/recycling-to-boost-us-lithium-carbonate-production?_branch_match_id=1544393622687312289&utm_source=facebook&utm_medium=share&_branch_referrer=H4sIAAAAAAAAAwXBMQ6AIAwF0BvBbmIcWB10YzPFFCHQQj4kbp7d99KcfSzWBtY7CaFIVgbVYah3U7MW6%2BRstHs%2Fj7B94MhA1ucKaO9grC6hCf8lnLZDSAAAAA%3D%3D",{"text":717,"type":581},".”",{"type":633,"attrs":719,"content":720},{"level":635,"textAlign":49},[721],{"text":722,"type":581},"How did Asian overcapacity impact the industry?",{"type":576,"attrs":724,"content":725},{"textAlign":49},[726],{"text":727,"type":581},"In Asia, recyclers have invested heavily in hydrometallurgical infrastructure and have significantly lower overheads than processors in Europe and North America.",{"type":576,"attrs":729,"content":730},{"textAlign":49},[731,733,738],{"text":732,"type":581},"This means Asian players have higher purchasing power for black mass than Western players and are able to ",{"text":734,"type":581,"marks":735},"outcompete such recyclers on price",[736],{"type":586,"attrs":737},{"href":602,"uuid":49,"anchor":49,"target":49,"linktype":589},{"text":739,"type":581}," even for black mass from those regions.",{"type":576,"attrs":741,"content":742},{"textAlign":49},[743],{"text":744,"type":581},"“Burgeoning Asian black mass demand spilled over into North America too as competition heated up in the seaborne Asia market causing North American payables to rise,” Bloomfield said.",{"type":633,"attrs":746,"content":747},{"level":635,"textAlign":49},[748],{"text":749,"type":581},"What recycling trends are expected for 2025?","Low critical raw material prices led to lower black mass payables in 2024, squeezing the already tight margins for battery recyclers. Despite this, the overcapacity of black mass processing in Asia led to the region’s recyclers competing for North American and European black mass. This meant minerals contained in the Western battery scrap pool were […]",[752],{"slug":564,"name":565,"content":753},{"job_title":567,"image":754,"bio":570,"linkedin":571},{"filename":569},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"61f2fcca-f688-45d4-b3ca-159312e4f549\", \"id\": \"\"}-->","article",[758,761],{"slug":759,"name":760},"recycling","Recycling",{"slug":762,"name":763},"sustainability","Sustainability","private",{"id":49,"alt":704,"name":704,"focus":704,"title":704,"source":704,"filename":766,"copyright":704,"fieldtype":767,"meta_data":768,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/93edcc0388/bm-ascend-elements-recycling.jpg","asset",{"alt":704,"title":704,"source":704,"copyright":704},"Dec 24, 2024","24th December 2024",[],[],1780500938075]