This week, the Co3O4 market prices remained stable.
Supply side, the market supply from Co3O4 smelters slightly decreased. Demand side, the LCO market demand was relatively mediocre, mainly driven by rigid restocking needs, with trading volume remaining relatively small. Looking ahead to next week, as the raw material cobalt salt prices continue to decline, the cost support for Co3O4 is expected to weaken gradually, and spot prices may see a slight downward adjustment. However, due to the limited inventory of LCO downstream and ongoing procurement demand, the downside room for Co3O4 prices is relatively small.
