The price of cobalt tetroxide continues to rise driven by cost factors

Some Co3O4 enterprises chose to suspend their quotations, while others quoted prices in the range of 215,000-220,000 yuan/mt. However, the actual transaction prices only rose slightly. The current transaction price for low-voltage Co3O4 is around 209,000 yuan/mt, while the actual transaction price for high-voltage doped Co3O4 is in the range of 213,000-214,000 yuan/mt. The weekly transaction activity slightly declined. On the supply side, driven by costs, Co3O4 plants have gradually increased their quotations. On the demand side, benefiting from the positive end-use consumption, cathode plants' demand has increased. It is expected that prices will continue to rise next week, with the highest price possibly exceeding 215,000 yuan/mt.