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Spot price of Co3O4 declines [SMM Weekly Review of Co3O4 Market]
May 8, 2025 16:09Source:SMM
[SMM Weekly Review of Co3O4 Market: Co3O4 Spot Price Declines] This week, the spot price of Co3O4 experienced a slight decline. In terms of supply, the market was sluggish after the holiday, with most smelters maintaining their pre-holiday quotes, but transaction activity weakened. On the demand side, some enterprises had already completed their necessary procurement tasks, and their acceptance of high-priced Co3O4 decreased, leading to a decline in spot prices. It is expected that next week, as the inventory of LCO manufacturers gradually depletes and they may generate a certain level of restocking demand, a new round of procurement may be triggered. Therefore, the downward space for Co3O4 spot prices may be limited, and they are more likely to fluctuate at highs.
This week, the spot price of Co3O4 experienced a slight decline. In terms of supply, the market was sluggish after the holiday, with most smelters maintaining their pre-holiday quotes, but transaction activity weakened. On the buyer side, some enterprises had already completed their necessary procurement tasks, and their acceptance of high-priced Co3O4 decreased, leading to a decline in spot prices. It is expected that next week, as the inventory of LCO manufacturers gradually depletes and they may generate a certain level of replenishment demand, a new round of procurement may be triggered. Therefore, the downward space for the spot price of Co3O4 may be limited, and it is more likely to fluctuate at highs.
SMM New Energy Research Team
Cong Wang 021-51666838
Rui Ma 021-51595780
Disheng Feng 021-51666714
Yanlin Lv 021-20707875
Yueming Li 021-51666809
Zhicheng Zhou 021-51666711
For queries, please contact Lemon Zhao at lemonzhao@smm.cn
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