LCO: Raw Material Cost Transmission and Battery Cell Stockpiling Drive Price Increases, Inventory Buffer Suppresses Urgent Order Demand

Published: Oct 16, 2025 17:49

Save

In the LCO sector, most enterprises have successively begun offering prices, with the transaction price for conventional models reaching 350,000 yuan/mt. This round of price increases is primarily driven by cost transmission from upstream cobalt chloride and Co3O4, as well as stockpiling by battery cell enterprises. Earlier, influenced by the DRC's quota policy, panic sentiment intensified downstream, pushing prices up rapidly; currently, market sentiment is gradually returning to rationality, and prices are tending to stabilize. At present, inventory levels at cathode material and battery cell enterprises are relatively sufficient, providing a certain buffer against the rapid rise in raw material prices and also suppressing short-term urgent restocking demand to some extent. LCO prices are expected to remain firm in the near term and still have room for further increases.

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

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.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

11 hours ago

Beijing Launches 500-kV Power Project in Fengtai, Boosting Grid Resilience and Industrial Growth

On January 28th, the construction of the 500-kilovolt power transmission and transformation project in Fengtai, Beijing officially started. This project is the first newly-built 500-kilovolt power grid project in Beijing during the 15th Five-Year Plan period. It will significantly enhance the resilience and power receiving capacity of the southern Beijing power grid and provide reliable power support for Beijing to continuously optimize the investment structure and vigorously develop high-end, precise, and cutting-edge industries. The 500-kilovolt power transmission and transformation project in Fengtai, Beijing is a key project of Beijing's power grid during the 15th Five-Year Plan period and one of the "3 100" key projects in Beijing this year. It is constructed and managed by the State

11 hours ago

Shaanxi-Anhui UHV DC Project's 500-kV AC System at Hezhou Station Begins Operation After Trial Run

On February 1st, the 500-kilovolt AC system of the Hezhou Converter Station, the receiving-end station of the ±800-kilovolt UHV DC power transmission project from northern Shaanxi to Anhui, was officially put into operation after a 24-hour trial run.

11 hours ago

750-kV Power Line Connecting Northern to Central Shaanxi Fully Operational

On February 2nd, the 750-kilovolt power transmission and transformation project of the third passageway from northern Shaanxi to central Shaanxi was fully connected. The project starts from the 750-kilovolt Shuofang Substation in Shenmu City in the north and ends at the 750-kilovolt Bailuyuan Substation in Lantian County in the south. It has newly built a 1,271-kilometer line, passing through 18 counties (districts) in 4 cities including Yulin, Yan'an, Weinan and Xi'an.

11 hours ago