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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
