A black ash-like substance that is produced when LIBs (lithium-ion batteries) are dismantled and crushed.　It contains Ni, Co, Li, and Mn components. Black mass also contains phosphoric acid and other impurities. There are wet and dry types. Black powder is made by crushing only cathode material scraps and contains few impurities. The value of black mass and powder also varies depending on the composition of the valuable metals contained. MIRU interviews exporters and importers (mainly from Korea, China, and Malaysia) to calculate prices.