LCO prices remained stable this week

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The LCO market remained relatively stable this week. The mainstream quotations for 4.2V/4.4V/4.5V products pulled back to 209,000 yuan/mt, 214,000 yuan/mt, and 225,000 yuan/mt, respectively. Prices were influenced by changes in the prices of raw materials, namely lithium carbonate and cobalt tetroxide: battery-grade lithium carbonate prices have recently rebounded slightly, while cobalt tetroxide prices have still fallen by a certain margin. Overall, this has not had a significant impact on LCO prices. On the supply side, cobalt tetroxide enterprises currently have substantial inventory reserves, and upstream willingness to sell has significantly increased, with producers actively lowering their quotations. On the demand side, terminal producers are in the stage of digesting battery cell inventory, leading to a decrease in cathode material purchases. Cathode plants are relatively cautious in their raw material purchases for LCO. It is expected that LCO prices will remain stable in the short term.

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