Currently, Co3O4 enterprises are still suspending quotations and shipments, with both upstream and downstream players adopting a wait-and-see attitude and no transactions being made. Affected by the policies in the DRC, in terms of supply, Co3O4 plants choose to suspend quotations and observe the overall market sentiment and demand situation; in terms of demand, LCO cathode plants have relatively low inventory, but the overall market has been greatly influenced by sentiment recently, so they choose to wait and see. Regarding prices, there are currently no quotations in the market, but some Co3O4 plants have indicated that the expected shipment price may range from 210,000 to 220,000 yuan/mt. The specific price trend and range of change still need to be determined when actual transactions occur. In the long term, Co3O4 prices are still influenced by cobalt inventory. Whether the current industry inventory can support the market until December has become a key factor affecting the price trend.
