LCO: Cost Transmission Support, Demand Growth Under Pressure

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