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[SMM Analysis] LCO Prices Fluctuated Sharply This Week, Market Outlook Remains Bullish

  • Mar 13, 2025, at 7:41 am
[LCO Prices Fluctuated Sharply This Week, with a Bullish Outlook Ahead] This week, LCO prices were significantly impacted by the sharp fluctuations in upstream raw material prices. The latest prices for 4.2V/4.4V/4.5V LCO were 196,000/200,000/210,000 yuan/mt, respectively. Co3O4 quotations continued to rise from 160,000 yuan/mt, with some producers suspending quotations and holding back cargoes. Sporadic transaction prices in the market have exceeded 195,000 yuan/mt, with a weekly increase of over 22%.

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This week, lithium cobalt oxide (LCO) prices were significantly affected by sharp fluctuations in upstream raw material prices. The latest prices for 4.2V/4.4V/4.5V LCO were 196,000/200,000/210,000 yuan/mt, respectively. Co3O4 prices continued to rise from 160,000 yuan/mt, with some producers suspending quotations and holding back cargoes. Sporadic market transaction prices have exceeded 195,000 yuan/mt, with a weekly increase of over 22%. The average price of battery-grade lithium carbonate slightly declined this week, mainly due to increased operating rates of lithium chemical enterprises combined with weak end-use demand, maintaining a loose supply and demand balance in the market. Demand side, the 3C sector showed mixed performance, with stable Q1 orders from mobile phone and laptop manufacturers, and LCO procurement driven primarily by rigid demand. In the short term, the risk premium for cobalt resource supply still has upside room, and LCO prices are expected to remain bullish 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

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