Last week, prices of waste lithium-ion batteries moved higher, while market trading volume contracted. According to feedback from black mass producers, the lithium-ion battery scrap circulating in the market this week was mainly NCM (ternary) based, with LFP scrap being scarce and difficult to procure. Operating rates of black mass producers have seen a modest increase, though overall raw material replenishment remains tight, prompting them to actively seek toll processing orders.