[SMM Analysis] LCO Spot Market Prices Face Significant Resistance to Rebound

This week, LCO prices remained stable, with the latest prices for 4.2V/4.4V/4.5V LCO at 134,000/138,000/150,000 yuan/mt, unchanged from last week. Supply side, LCO production in December slightly declined, mainly due to the slowdown in year-end stockpiling by enterprises, while downstream companies mostly purchased as needed, leading to weakened demand. Currently, the LCO market continues to adopt a volume discount strategy, with some enterprises opting for moderate price concessions to secure orders. Coupled with the recent weakening of raw material prices for lithium carbonate and Co3O4, LCO spot market prices faced significant resistance to rebound.