[SMM Analysis] Co3O4 Prices Slightly Declined This Week

[SMM Analysis: Co3O4 Prices Slightly Declined This Week] This week, Co3O4 prices experienced a slight decline. In terms of supply, smelters mainly focused on delivering previous orders, and the market has not yet fully recovered its activity. On the demand side, after the holiday, the market generally adopted a wait-and-see attitude, with spot demand remaining weak. Overall, as downstream enterprises had completed restocking before the holiday, the market was relatively quiet this week. Spot prices struggled to stabilize and showed a downward trend. Looking ahead to next week, downstream LCO enterprises are expected to have some purchasing demand, with an increase in inquiries. The market sentiment is likely to improve, and Co3O4 prices are expected to remain temporarily stable without further decline.