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This week, LCO prices remained stable, with the latest prices for 4.2V/4.4V/4.5V LCO at 134,000/138,000/150,000 yuan/mt, unchanged from last week. On the raw material side, prices of battery-grade lithium carbonate and Co3O4 showed no significant changes this week, keeping LCO costs stable with relatively small market price fluctuations. LCO production in December decreased, down 3% MoM. Approaching year-end, end-use demand weakened, and battery cell manufacturers mainly adopted a purchase-as-needed approach, slowing the overall procurement pace. This trend extended to LCO material manufacturers, where orders slightly declined, leading to a reduction in overall production schedules. In terms of market structure, December's CR5 stood at 85%, with leading material manufacturers maintaining high operating rates and sufficient orders. LCO prices are expected to continue a slight downward trend in the future.
SMM New Energy Research Team
Cong Wang 021-51666838
Xiaodan Yu 021-20707870
Rui Ma 021-51595780
Ying Xu 021-51666707
Disheng Feng 021-51666714
Yujun Liu 021-20707895
Yanlin Lü 021-20707875
Zhicheng Zhou 021-51666711
Haohan Zhang 021-51666752
Zihan Wang 021-51666914
Xiaoxuan Ren 021-20707866
Yushuo Liang 021-20707892
Jie Wang 021-51595902
Yang Xu 021-51666760
Lianting Yang 021-51595835
