Co3O4 trading activity has weakened, with long-term contract fulfillment as the main focus. The market outlook is still expected to be bullish.

Currently, the enterprise quotes for Co3O4 are in the range of 200,000-220,000 yuan/mt, with market trading volume pulling back compared to the previous period. In terms of supply, some producers have suspended spot order quotes and are focusing on fulfilling long-term contracts. On the demand side, end-use consumption has been weak, with LCO cathode material producers reducing their purchase needs and market purchase willingness remaining low. The current actual transaction price has reached approximately 210,000 yuan/mt. Based on factors such as supply tightening and cost support, it is expected that the price of Co3O4 will continue to show an upward trend in the future.