【SMM Analysis】Co3O4 Prices Dropped Back Slightly This Week

This week, the price of Co3O4 dropped back slightly. Supply side, most smelters' quotations tended to stabilize, and the market gradually returned to rationality. Demand side, most producers had completed their purchases earlier, so there were fewer new orders this week. Market acceptance of high prices decreased, activity weakened, and a buffer period began. In the short term, the price of Co3O4 is expected to remain at a relatively high level. However, due to the weak purchase willingness of downstream LCO producers and some resistance sentiment, the price may continue to decline next week.