Co3O4: Price Transmission Lags, Rise Expected to Strengthen

This week, the mainstream transaction prices for cobalt tetroxide (high voltage, high doping) ranged from 215,000 to 220,000 yuan/mt. While the price of raw material cobalt chloride continued to rise, the price of cobalt tetroxide remained generally stable. However, on the 10th, the transaction price of cobalt chloride broke through the previous high, reaching 69,000 yuan/mt, significantly strengthening the cost-driven upward momentum for cobalt tetroxide. According to current information, leading cobalt tetroxide enterprises plan to raise their quotations next Monday, with the new quotation range expected to reach 230,000 to 235,000 yuan/mt. Nevertheless, downstream cathode material enterprises currently have relatively sufficient inventories of cobalt tetroxide. Whether actual transactions can follow the upstream price increase expectations still requires close attention to downstream acceptance.