Cost Push from LCO May Dominate the Future Market

The LCO market is currently stable overall, with mainstream transaction prices for 4.45V/4.48V products at around 230,000 yuan/mt, and prices for 4.50V and above models above 235,000 yuan/mt, flat WoW. The recent decline in lithium carbonate prices has had limited impact on LCO. Demand side, some cathode plants reported that September orders fell short of expectations, and production schedules have declined; supply side, cathode plants have sufficient inventory, which can buffer the transmission pressure from upstream raw material price fluctuations in the short term. With the rise in Co3O4 prices, cost support for LCO is expected to strengthen, and mainstream product transaction prices may rise to 235,000–240,000 yuan/mt next week.

Cong Wang 021-51666838

Rui Ma 021-51595780

Disheng Feng 021-51666714

Yanlin Lü 021-20707875

Zhicheng Zhou 021-51666711

Haohan Zhang 021-51666752

Zihan Wang 021-51666914

Jie Wang 021-51595902

Yang Xu 021-51666760

Lianting Yang 021-51595835

Zhaoyu Wang 021-51666827