LCO: Cost Transmission Support, Demand Growth Under Pressure

Published: Dec 11, 2025 17:21

Save

This week, trading activity in the lithium cobalt oxide (LCO) market rebounded, with the overall supply-demand relationship remaining stable. Supply side, quotations for standard-grade products generally held above 370,000 yuan/mt, supported by persistently high raw material prices such as cobalt chloride and Co3O4, providing significant cost support. Demand side, battery cell manufacturers are still negotiating orders with downstream end-users. Affected by consecutive increases in raw material prices, some enterprises are evaluating the switch from LCO to ternary cathode materials, leading to a certain decline in new orders recently. In the short term, LCO prices are expected to remain stable, with limited upward momentum.

Wang Cong 021-51666838

Ma Rui 021-51595780

Feng Disheng 021-51666714

Lü Yanlin 021-20707875

Zhou Zhicheng 021-51666711

Zhang Haohan 021-51666752

Wang Zihan 021-51666914

Wang Jie 021-51595902

Xu Yang 021-51666760

Yang Lianting 021-51595835

Wang Zhaoyu 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

15 hours ago

Ministry of Industry and Information Technology Announces Ninth Batch of Lithium Battery White List

On February 28, the Ministry of Industry and Information Technology officially released the list of enterprises (ninth batch) that meet the "Lithium-ion Battery Industry Standard Conditions," known as the Lithium Battery White List. A total of 36 enterprises are included in this batch. Among them, energy storage battery manufacturers include Ganfeng LiEnergy, Yichun Gotion, and Zhongqi Xinneng Qingdao. Other enterprises on the list are categorized into power batteries, cathode materials, anode materials, separators, and consumer batteries, among others.

15 hours ago

Two Solid-State Battery Projects Land In Shanghai

On February 27, 2026, solid-state battery projects from Dejia Energy (Shanghai) Co., Ltd. and Shanghai Yuanchen Hangneng Technology Development Co., Ltd., both enterprises in the Lingang Blue Bay Park, were signed. Dejia Energy's Lingang project plans to construct a 3GWh solid-state battery production line in two phases, which will help upgrade Lingang from a traditional lithium battery manufacturing base to a highland for the industrialization of next-generation battery technologies. Shanghai Yuanchen Hangneng's project focuses on core solid-state electrolyte technologies and is dedicated to the research, development, and production of high-energy-density, high-safety all-solid-state lithium batteries. Equipment commissioning and production are expected to be completed by the end of 2026.

15 hours ago

Chilean Lithium Producer SQM Reports 53% YoY Profit Growth in Q4

Chilean lithium producer SQM announced that its Q4 net profit increased due to favorable market conditions which raised the average price of lithium and thus boosted performance. The world's second-largest lithium miner stated that its Q4 net profit was $183.8 million up 53% YoY. Revenue for the quarter grew by 23.3% reaching $1.32 billion compared to $1.07 billion in the same period last year. Gross profit for the quarter rose 52.7% to $448.5 million. SQM CEO Ramos said, "Our Q4 2025 results reflect record sales from our two major lithium businesses (Nova Andino Litio and the International Lithium Division)." "In November 2025, we began to see early signs of an improving supply-demand balance primarily driven by stronger-than-expected ESS demand."

15 hours ago