[SMM Weekly Review] Co3O4 Prices Remained Stable This Week

Jan 02, 2025, at 5:07 pm

[SMM Weekly Review: Co3O4 Prices Remain Stable This Week] 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 limited trading volume. Looking ahead to next week, as raw material cobalt salt prices continue to decline, the cost support for Co3O4 is expected to weaken, and spot prices may see a slight downward adjustment. However, due to the relatively low inventory of downstream LCO and ongoing procurement demand, the downside room for Co3O4 prices remains limited.

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 downstream LCO and ongoing procurement demand, the downside room for Co3O4 prices is relatively small. SMM New Energy Research Team Cong Wang 021-51666838 Rui Ma 021-51595780 Ye Yuan 021-51595792 Disheng Feng 021-51666714 Ying Xu 021-51666707 Yanlin Lü 021-20707875 Yujun Liu 021-20707895 Xiaodan Yu 021-20707870 Zhicheng Zhou 021-51666711

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