SHANGHAI, Oct 12 (SMM) –
In September, the production of Co3O4 in China was 7,268 mt, an increase of 5% MoM and 12% YoY. The main reason for the increase in production is the demand driven by new models from Huawei, leading to increased production schedules among LCO companies and an increase in Co3O4 demand, particularly concentrated among major players. Although some companies experienced production reductions or shutdowns, growing production at major manufacturers resulted in a growth in total Co3O4 production.
In October, due to some companies still fulfilling orders from September and spot prices rising due to the rebound in cobalt salt prices, the operating rate of various factories is expected to remain relatively high. The estimated production for October is approximately 7,616 mt, an increase of 5% MoM and 19% YoY.
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