Circle8
Explore BMx

India’s battery metals supply chain, and the price everyone trades on.

Circle8 sources, grades and moves end-of-life batteries and black mass to domestic recyclers and refiners, and publishes the benchmark that flow creates. Metals recovered in India, priced in India, kept in India.

Buy or sell battery scrapSee how it works
  • Lab-assayed lots
  • Documented from collection
  • Domestic refiners
35Recyclers we work withAcross India, supplied with graded battery scrap and black mass.
930 MTBattery scrap suppliedLithium-ion battery scrap moved to domestic recyclers to date.
3,395 tCO₂e saved3,394,500 kg of CO₂ equivalent avoided through recycling instead of landfill or primary mining.

CO₂e-avoided methodology reference: ICRIER, Technology Roadmap for EV Battery Recycling: Ensuring Circularity of EV Battery Supply Chain.

/Industry03
The bigger picture

India’s battery-scrap problem, in numbers

The volume of spent lithium-ion batteries India has to deal with is growing fast, and today most of it isn’t recycled at all.

14M tIndia's e-waste by 2030Up from 6.19 million tonnes in 2024, growing near 17% a year — NITI Aayog, 2026.
~10%Of India's e-waste is recycledAgainst a 22% global average, and over 55% in the EU and US — NITI Aayog, 2026.
233ktEnd-of-life battery waste by 2035Up from about 19,000 tonnes in 2023 — roughly 26% growth a year — NITI Aayog, 2026.

Figures from NITI Aayog’s Advancing Circular Economy of E-waste and Lithium-Ion Batteries in India report. Forecasts vary by source; these are the most recent government estimates available.

/Challenges04
The problem

Four gaps between recycling capacity and a working market

Recycling capacity in India is growing, but the market around it is still forming. These are the gaps Circle8 is built to close.

See our approach
  1. 001

    No shared definition of grade

    Black mass and scrap are traded without a common written spec, so two lots with the same name can be worth very different amounts.

  2. 002

    Prices are discovered elsewhere

    Reference prices for black mass are largely set in overseas markets, so Indian sellers often price against benchmarks that were not built for their material.

  3. 003

    Supply that leaks out of view

    Used batteries sitting with repair shops and informal channels are hard to collect, document or grade, so value and volume slip away.

  4. 004

    Compliance without provenance

    Recycling certificates are only as good as the records behind them, and inflated or fraudulent certificates have been flagged as a problem.

/Our storyMission
Why we started

India shouldn’t discover the price of its own lithium in Seoul

Circle8 started in India’s battery scrap market doing what everyone else in it does: buying and selling material, one lot at a time. What became clear fast was that the market itself was the real gap — no shared way to grade a lot, no domestic price reference, and volume that never made it into any record at all. We built Circle8 to fix the market underneath the trade, not just move material through it: grading, documentation and a price benchmark that a market this size should already have.

/Route06 steps
How it works

One route from scrap to refiner, with a record at every step

Each step is run on TradeHub, documented in Trace or priced in BMx.

01TradeHub

Collect

Scrap batteries come in from OEMs, fleets, repair shops and service centres. Sellers list what they have and sell it to Circle8.

Produces: a collection record

02Trace

Grade

Each lot is sorted by chemistry and format against a written grade specification, and a lot file is opened that follows it from here on.

Produces: a grade sheet and lot file

03TradeHub

Supply

Graded scrap batteries are moved, with transport and custody documents, and supplied to recyclers who buy from Circle8.

Produces: a delivery receipt

04BMx

Assay

Black mass is assayed by ICP-OES at an accredited or in-house lab, and the report reference is attached to the lot.

Produces: an assay certificate

05BMx

Price and trade

Each lot is priced with the calculator's payable logic, then listed, enquired on and traded on that basis.

Produces: an agreed lot value

06BMx

Benchmark

Payable rates across listed lots are published as a low, median and high benchmark for each chemistry.

Produces: a payable benchmark

Step 01 of 06
/Products03
001TradeHub

Sell scrap batteries to Circle8, or buy graded lots from Circle8

TradeHub is the direct channel between you and Circle8. One counterparty, clear terms, and the pickup and paperwork handled.

  • Sell: list chemistry, format, quantity and location, get Circle8’s quote, and schedule the pickup.
  • Buy: purchase chemistry-graded scrap batteries from Circle8.
  • Documented: every lot you trade with Circle8 gets a record in Trace.
Sell scrap to Circle8Buy from Circle8
/Black massBMx
002BMx

Everything black mass, priced on payables

Calculate the indicative payable value of a lot, browse tested lots on BMx Marketplace, and see the payable benchmark by chemistry — all on the same payable logic, on its own page.

Open BMx

  • Calculate

    Turn metal content, market prices and agreed payables into an indicative buying price for a lot of black mass, in rupees per kg.

  • Marketplace

    Browse tested black mass lots from the Circle8 network, with assay, quantity, testing details and an indicative payable.

  • Benchmark

    Low, median and high payable rates by chemistry, drawn from the lots currently listed.

003Trace

A documented record for every lot

Trace keeps the file behind each lot: how it was sourced, how it was graded, what the lab found, how it moved and where it landed. Refiners get provenance, producers get proof, and everyone gets fewer disputes.

  • Lot-level records from collection to the refiner's gate.
  • Grade sheets and assay certificates stored with the lot.
  • Transport and custody documents in one place.
  • Files ready for EPR and compliance reviews.
Ask about Trace
/Who it's for05
Every side of the market

Built for the people who make this market work

Turn scrap batteries into a clear, documented sale

Repair shops, fleets, businesses and industrial units sell to one counterparty, on clear terms.

TradeHubList your batteries, get Circle8's quote, schedule the pickup.
TraceKeep a record of every lot you sold.
/Our network35
Who we work with

Working with 35 recyclers across India

Circle8 supplies graded, documented battery scrap and black mass to a growing network of recyclers nationwide.

  • Recycler partner 1
  • Recycler partner 2
  • Recycler partner 3
  • Recycler partner 4
  • Recycler partner 5
  • Recycler partner 6
  • Recycler partner 7
  • Recycler partner 8
  • Recycler partner 9
  • Recycler partner 10
  • Recycler partner 11
  • Recycler partner 12
  • + 23 more

12 of Circle8’s 35 recycler partners, shown with permission. Logos are trademarks of their respective owners.

Circle8Have black mass to sell?

India shouldn’t discover the price of its own lithium in Seoul.

Trade it, trace it and price it here. Circle8 is building the supply chain and the benchmark that keep India’s battery metals, and their value, at home.

Talk to Circle8List your material
/Endorsements03
What partners say

Real impact, real endorsements

Quotes from recyclers and partners we work with go here once they’re ready to share.

  • “[Quote placeholder — add a real endorsement from a recycler or partner.]”

    [Name][Title, company]

  • “[Quote placeholder — add a real endorsement from a recycler or partner.]”

    [Name][Title, company]

  • “[Quote placeholder — add a real endorsement from a recycler or partner.]”

    [Name][Title, company]

Placeholder quotes — swap in real endorsements before publishing.

/FAQ06
Common questions

Everything to know about TradeHub, Trace and BMx

Get in touch
001What are TradeHub, Trace and BMx?

TradeHub is where you sell scrap batteries to Circle8 or buy them from Circle8. BMx is for everything black mass: work out a payable price, browse and enquire on tested lots, and follow the payable benchmark. Trace keeps the documented record for each lot.

002How does the BMx calculator work?

Enter the net weight and moisture, the market prices for cobalt, nickel and lithium hydroxide plus USD/INR, then each metal's content and payable. A payable is the share of contained metal value paid to the supplier. BMx values each metal, adds them up, converts to rupees and deducts moisture to give an indicative net payable price per kg and per tonne. Leave lithium blank if it is not payable. The result is indicative, not a quote.

003Can I buy and sell black mass on BMx?

Yes. BMx Marketplace lists tested black mass lots from the Circle8 network, each with assay, quantity, testing details and an indicative payable. You can enquire directly on a lot or submit your material for Circle8 verification. Submitted material is reviewed before it is published. GST is shown separately at 18%.

004How is the payable benchmark determined?

Today the benchmark shows the low, median and high payable rates across the lots currently listed on BMx Marketplace, by chemistry, and every lot carries a lab assay and report reference. The plan is to move it to verified, executed trades as they build up, with the methodology open to consultation.

005How will you keep the benchmark separate from your own trading?

As the benchmark moves to executed trades, Circle8's own trades will be submitted like anyone else's, our share of volume will be disclosed, and methodology changes will go through consultation before they take effect.

006Who can use TradeHub?

TradeHub is for trading scrap batteries with Circle8. Repair shops, fleets, OEMs, businesses and industrial units can sell to Circle8, and recyclers and other buyers can buy graded lots from Circle8.