Some cobalt plants have once again suspended their quotations, and prices are expected to continue rising.

Currently, Co3O4 enterprises are offering quotes between 200,000-220,000 yuan/mt, with some enterprises beginning to suspend quoting. Both upstream and downstream players are adopting a wait-and-see attitude, resulting in fewer actual transactions, mostly for long-term contract deliveries. In terms of supply, Co3O4 plants are choosing to observe the overall market sentiment and demand situation, with only a small amount of shipments. On the demand side, LCO cathode plants have relatively low inventory, but the overall market has been significantly influenced by sentiment recently, leading them to adopt a wait-and-see approach. Regarding prices, Co3O4 plants in the current market indicate that their shipping expectations are between 210,000-230,000 yuan/mt, but actual transactions for high-priced Co3O4 remain few. In the long term, Co3O4 prices are still influenced by cobalt inventory, and whether the current industry inventory can sustain until December has become a key factor affecting price trends.