Re: "Less than 5 per cent of lithium-ion batteries are recycled today"
Even if the batteries you put in the bin at Lowes aren't getting recycled today, hopefully they end up together with other unrecycled batteries. Either in storage somewhere or in a dedicated area of a landfill. That way they can be recycled in the future.
Probably they are paying to ship them to China and be warehoused there, and China will reap the benefit when it makes economic sense to recycle random small stuff like phone/laptop/toy/etc. battery packs.