[SMM Analysis] Co3O4 Prices Rose This Week

This week, Co3O4 prices increased, mainly driven by news of the DRC suspending cobalt exports. Smelters have halted quotations, and market sentiment remains cautious, providing stronger price support. Meanwhile, cobalt salt raw material prices are also climbing, further pushing up the cost of Co3O4. Although spot prices are expected to continue rising in the short term, due to LCO producers still holding certain inventories and market demand being less than ideal, prices may struggle to sustain their upward momentum. As a result, the market remains in a wait-and-see mode, and future price trends will need close monitoring of raw material supply conditions.

SMM New Energy Research Team

Cong Wang 021-51666838

Rui Ma 021-51595780

Disheng Feng 021-51666714

Ying Xu 021-51666707

Yanlin Lü 021-20707875

Yujun Liu 021-20707895

Xiaodan Yu 021-20707870

Zhicheng Zhou 021-51666711