Tricobalt Tetraoxide Prices Rose in March, will Fall in April

Published: Apr 13, 2023 16:57

Source: SMM

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The average monthly price of Co3O4 was 172,200 yuan/mt in March 2023, up 1% MoM but down 60% YoY. The average price is expected to fall in April.

Tricobalt tetraoxide prices rose slightly before stabilising in the first half of March. Specifically, cobalt salt manufacturers hiked prices slightly, while downstream CAM plants barely made inquiries. And the demand in the digital market continued to be weak. Later, poor orders from downstream lithium cobalt oxide and battery cell manufacturers further weakened the demand for tricobalt tetraoxide, so the prices of tricobalt tetraoxide lacked momentum and fell at the end of the month.

The prices of cobalt salt raw materials were lowered, and the cost of tricobalt tetraoxide dropped slightly; downstream demand remained poor, and most buyers stood on the sidelines. Prices of tricobalt tetraoxide will continue to decline in April.

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