【SMM Analysis】Earlier orders were signed in large numbers, causing tetra-cobalt production to increase in order to fulfill those orders

In March, China's cobalt tetroxide production was 7,175 tonnes, up 17% from the previous month and up 28% year-on-year. The main reasons for the production increase this month were: first, the smelting plants resumed normal operation after the Spring Festival holiday. Second, due to the large number of orders previously signed by cobalt companies, cobalt tetroxide production was maintained to ensure timely delivery of orders. As a result, production in March saw a month-on-month increase. It is expected that in April, due to signs of weakening demand from downstream customers and maintenance plans from some smelting plants, production may decrease. Cobalt tetroxide production in April is estimated to be 7,055 tonnes, a decrease of 2% month-on-month and an increase of 14% year-on-year.