[SMM Analysis] At the beginning of this week, the spot price of Co3O4 declined slightly

At the beginning of this week, the spot price of Co3O4 declined slightly. From the supply side, the market performance was sluggish, with some smelters lowering their quotes and showing increased willingness to sell. However, the overall trading activity remained low. On the demand side, some enterprises had already completed their necessary purchases, reducing their acceptance of high-priced Co3O4, which led to a decrease in trading activities. Considering the current market dynamics and demand trends, it is expected that the price of Co3O4 will continue to face downward pressure this week.