SMM weekly review and forecast for LCO

The price of LCO rose last week, mainly caused by the increase in the price of Co3O4. The growth in costs pushed up the price of LCO. At present, the leading enterprises of LCO cathode materials have an absolute advantage in product output and shipments. On the demand side, due to the rise in the price of raw materials such as Co3O4 and LCO, downstream cell factories will stock low-priced LCO in advance. Some purchase orders in June will move forward to July and August, but orders are still placed on demand, to avoid over-accumulation of raw material inventory. At present, the price of cobalt raw materials is still rising, and the price of LCO will drop moderately in the short term.