[SMM Co3O4 Weekly Review] Co3O4 Prices Remained Stable This Week

This week, Co3O4 prices remained stable. Supply side, the operating rate of Co3O4 smelters decreased. Demand side, only a few companies had sporadic new orders, and the LCO market demand was mediocre, mainly driven by restocking for immediate needs. Overall, the market still showed a weak supply and demand situation. It is expected that next week, some companies may choose to lower prices to clear inventory by year-end. Coupled with the continued decline in raw cobalt salt prices, the cost support for Co3O4 has also weakened, and spot prices may see a slight decline.