LCO prices continue to decline slightly due to the impact of raw materials

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The LCO market was under pressure this week, with mainstream quotations for 4.2V/4.4V/4.5V products pulling back to 217,000 yuan/mt, 221,000 yuan/mt, and 232,000 yuan/mt, respectively. The price adjustments were mainly driven by dual pressures from the raw material side: battery-grade lithium carbonate continued its downward trend, while Co3O4 experienced a slight price easing due to weak procurement sentiment. On the supply side, top-tier enterprises maintained high production levels through capacity releases. On the demand side, the preparation of "618" sales promotions by terminal producers drove a temporary increase in procurement demand from battery cell manufacturers. It is worth noting that the uncertainty in cobalt raw material supply caused by changes in the DRC's mining policies continues to affect the shipping strategies of LCO cathode producers, with the market remaining cautious in shipping.

SMM New Energy Research Team

Wang Cong 021-51666838

Yu Xiaodan 021-20707870

Ma Rui 021-51595780

Xu Ying 021-51666707

Feng Disheng 021-51666714

Liu Yujun 021-20707895

Lv Yanlin 021-20707875

Zhou Zhicheng 021-51666711

Zhang Haohan 021-51666752

Wang Zihan 021-51666914

Ren Xiaoxuan 021-20707866

Liang Yushuo 021-20707892

Wang Jie 021-51595902

Xu Yang 021-51666760

Yang Lianting 021-51595835

Wang Zhaoyu 021-51666827