SMM Co3O4 Price Review and Forecast (Feb-Mar, 2023)

SHANGHAI, Mar 15 (SMM) – The monthly average price of Co3O4 stood at 171,000 yuan/mt in February, down 9% MoM and 59% YoY.  

In early-to-mid February, leading lithium cobalt oxide (LCO) manufacturers slashed their output sharply amid persistently sluggish digital electronics market, undermining Co3O4 demand and its prices.

At the end of the month, Co3O4 prices bottomed out marginally, which was driven by rising cobalt salt costs rather than demand recovery. It is expected that dismal digital electronics market will prevent Co3O4 prices from going up significantly in March.