This week, the price of Co3O4 continued to decline [SMM Weekly Review of Co3O4 Market]

This week, the price of Co3O4 continued to decline. Supply side, smelters slightly lowered their quotes and showed increased willingness to sell. On the demand side, most LCO producers had already completed their procurement orders in the earlier period and still held a certain amount of inventory. They adopted a wait-and-see attitude and had low willingness to stockpile. Therefore, market transactions this week were mainly focused on executing existing orders, with overall market activity remaining low. However, as the price of cobalt salt, the raw material, still fluctuated at highs, the downside room for the spot price of Co3O4 was limited in the short term, and it was expected to continue fluctuating at highs.

SMM New Energy Industry Research Department

Wang Cong 021-51666838

Ma Rui 021-51595780

Feng Disheng 021-51666714

Lv Yanlin 021-20707875

Zhou Zhicheng 021-51666711

Zhang Haohan 021-51666752

Wang Zihan 021-51666914

Wang Jie 021-51595902

Xu Yang 021-51666760

Chen Bolin 021-51666836

Yang Le 021-51595898