SMM

SHANGHAI, Jul 4 (SMM) –Last week saw a minor hike in tricobalt tetraoxide prices, driven by increasing cost of its raw material, cobalt salt. While downstream demand for LCO remained relatively flat, rising lithium prices nudged up LCO's price. Several LCO firms, however, struggled to accept the inflated price of Co3O4 due to existing stock. Given the tension between supply-demand and raw material prices, it's predicted that Co3O4 prices will hold steady this week.