The Co3O4 market continues to show strength, with prices remaining firm and supply tight.

This week, the domestic Co3O4 market continued to fluctuate upward, with a stable market structure. Enterprise quotations were concentrated in the range of 340,000-360,000 yuan/mt, and mainstream transaction prices remained consistent with the quotation range, showing significant price firmness. Supporting factors were mainly reflected in two aspects: tight supply of upstream raw materials led to prices fluctuating at highs, providing strong cost support for Co3O4; and steady demand in the end-use consumer electronics sector maintained stable procurement volumes for Co3O4. Currently, market participants maintained a cautious stance, with enterprises primarily fulfilling long-term agreement orders, resulting in relatively scarce circulating resources in the spot market. Short-term prices are expected to have slight upside room, but overall gains are limited.