SHANGHAI, Dec 21 (SMM) - On the supply side, China’s tricobalt tetraoxide output stood at 7,260 mt in November, a month-on-month increase of 14% and year-on-year increase of 4%. The output of mainstream producers rose sharply due to the increase in LCO orders from downstream producers and increasing tricobalt tetraoxide prices. Downstream producers are likely to ramp up the restocking approaching the end of the year in December. The output is expected to stand at 7,434 mt in December, up 2% on the month.
On the demand side, the demand for tricobalt tetraoxide stood at 6,231 mt in November, a month-on-month increase of 10% and year-on-year increase of 6%. LCO companies have increased their operating rates as the tight supply of downstream notebooks and mobile chips has been eased to a certain extent. The demand for tricobalt tetraoxide is likely to rise further in light of the pre-holiday restocking in December.
