Spot price of Co3O4 declines [SMM Weekly Review of Co3O4 Market]

Published: May 8, 2025 16:09

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[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

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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