This week, the price of LCO remained stable, and it is expected to have a significant upward potential in the future.

Published: Aug 1, 2025 16:24

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[The price of LCO remained stable this week, and it is expected to have a significant upward potential in the future.]

The mainstream quotation for 4.4V lithium cobalt oxide (LCO) is approximately 220,000 yuan/mt. The cost side shows a diverging trend: the price of Co3O4 remains stable, while the price of battery-grade lithium carbonate experiences increased volatility. However, there is a lag effect in the cost transmission to cathode material. On the supply side, cathode plants continue to adopt a cautious strategy, strictly adhering to the principle of producing based on sales, and maintaining inventory at a low level. On the demand side, growth is observed, driven by the end-use market. Overall, under the potential upward pressure of Co3O4 and lithium carbonate, LCO may subsequently experience a more significant cost-driven price increase.

SMM New Energy Research Team

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

Yang Lianting 021-51595835

Wang Zhaoyu 021-51666827

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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