The prices of SMM lithium iron phosphate (power battery) stood at 92,000 yuan/mt as of today, and the average price was 1,000 yuan/mt higher than yesterday.
A group of Chinese companies, including battery giant Contemporary Amperex Technology Co Ltd, announced plans to build or expand facilities for battery recycling, as China, the world's largest new energy vehicle market, is ramping up battery recycling capacity for sustainable development.