LCO: Cost-Driven Fluctuations, Short-Term Expectations Stable

LCO prices experienced minor fluctuations this week, primarily driven by price changes in upstream lithium carbonate. Currently, cathode plant producers have generally raised their offers for standard-grade products to above 400,000 yuan/mt, with high-voltage LCO offers reaching as high as 420,000 yuan/mt. Demand side, although January is traditionally an off-season, production schedules at mainstream producers were slightly better than previous expectations due to the impact of export tax rebate policies. However, as the February Chinese New Year holiday approaches, enterprises have generally lowered their production schedules. Overall, LCO prices are expected to remain stable in February, with little likelihood of wild swings.

Wang Cong 021-51666838

Ma Rui 021-51595780

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Zhou Zhicheng 021-51666711

Zhang Haohan 021-51666752

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Wang Jie 021-51595902

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