Last week, the payables for NCM black mass and cobalt-based black mass in the ternary system remained stable. Specifically, the payables for NCM cathode scrap powder held around 78%, while that for NCM battery scrap powder remained near 74%. For lithium cobalt oxide (LCO) cathode scrap powder, the cobalt salt payables stayed at approximately 80%, and for LCO battery scrap powder, it remained around 76%. With an unclear market outlook in the near term, downstream hydrometallurgical plants showed limited purchasing interest, while the previous tight supply situation has somewhat eased.The lithium carbonate price continued to dominate the Li-point pricing of lithium iron phosphate (LFP) black mass. Some hydrometallurgical plants currently in the capacity ramp-up phase have increased their procurement volumes. Recently, a certain volume of LFP black mass has flowed into the domestic market from other Asian countries, though the overall quantity remains relatively small.