Co3O4: Offers Hold Steady at Highs

The Co3O4 market operated steadily overall this week, with top-tier enterprise offers holding firm at 370,000 yuan/mt. Actual transactions varied by voltage grade: high-voltage products traded at 365,000–370,000 yuan/mt, while low-voltage products traded in the range of 360,000–365,000 yuan/mt. On the demand side, the traditional off-season in Q1 combined with relatively ample downstream stockpiling resulted in stable overall market demand. It is expected that in the short term, Co3O4 prices will mainly follow the trend of upstream cobalt salts and remain stable ahead of the holiday.