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Lithium prices rise to $22 as recycled battery sector nears profit turnaround

Lithium prices have climbed from about $8 to $22 in a year, ending a nearly three-year slide in secondary battery raw materials, helping resource recyclers that extract and resell metals from used batteries. The recovery in selling prices is raising expectations that a loss-making stretch of more than 10 quarters could shift to profit. Analysts also point to improving utilisation at new plants. The outlook hinges on supply, including expected new lithium mine operations by China’s CATL in the second half.

Industry

Ecopro Q2 operating profit 32.9 billion won, up 103 percent year on year

Ecopro Group said it stayed in the black on growth in its environmental business amid a semiconductor market boom and improved profitability in its lithium business. The company posted second-quarter consolidated revenue of 820.8 billion won and operating profit of 32.9 billion won, up 103 percent from a year earlier. Operating profit fell from the previous quarter. Heavy rain in Indonesia temporarily reduced utilisation at a nickel smelter, weighing on overall profitability.

Industry

Ecopro BM posts Q2 operating profit of 18 billion won, down 63 percent year on year

Ecopro BM stayed profitable this quarter, posting second-quarter consolidated revenue of 576.7 billion won and operating profit of 18 billion won, it said on July 31. Revenue fell 26.0 percent and operating profit dropped 63.2 percent from a year earlier. Results also weakened from the prior quarter, and the company swung to a net loss of 4.5 billion won. It plans to expand cathode-material supply and advance investments in Indonesia and Hungary.