SMM Analysis On China July Co3O4 Production And August Forecast

In July, China's Co3O4 production was 7,710 mt, up 2% MoM, down 8% YoY. The main reason for the increase in July production was the higher downstream purchasing willingness due to new mobile phone models in Q3 and low cobalt prices, leading to a rebound in Co3O4 demand, thus maintaining an upward production trend. It is expected that in August, downstream demand will still see a slight increase, so Co3O4 demand will remain stable, and production scheduling will remain stable. The estimated Co3O4 production in August is about 7,760 mt, up 1% MoM, up 5% YoY.