The Co3O4 market remained sluggish this week. Supply side, manufacturers found it difficult to hold high prices and offered concessions on shipments, yet product inventory continued to accumulate. Demand side, downstream LCO material enterprises still relied mainly on client-supplied materials and long-term contract procurement, with spot order demand continuing to shrink; meanwhile, affected by weak end-user demand, some clients had begun to slow down their long-term contract cargo pick-up pace. Looking ahead, the sluggish pattern of the Co3O4 market is unlikely to change in the short term, but we remain optimistic on prices, though the support comes more from the cost side, with limited boost from supply-demand and procurement aspects.
