Co3O4: Cost-Driven Price Increase Momentum Strengthens, Downstream Stockpiling Willingness Rises

This week, the quotation range for high-voltage, high-doped Co3O4 was 225,000–230,000 yuan/mt. Influenced by the continuous price increase of raw material cobalt chloride, the cost-driven upward momentum for Co3O4 significantly strengthened. Demand side, some downstream enterprises began increasing inventory reserves to hedge against potential price rise risks due to a possible extension of DRC policies. Co3O4 prices are expected to continue rising next week, with actual transaction prices likely to climb above 230,000 yuan/mt.