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Spot price of Co3O4 continues to decline [SMM Weekly Review of Co3O4 Market]
May 15, 2025, at 1:47 pm
[SMM Weekly Review of Co3O4 Market: Spot Price of Co3O4 Continues to Decline] This week, the price of Co3O4 continued to decline. Despite the high cost of raw materials due to the export ban in the Congo, excessive domestic inventory has also suppressed the upward momentum of prices, with spot quotes remaining weak. There has been no significant improvement in downstream demand, and most LCO enterprises are still purchasing as needed. The market inquiry atmosphere is sluggish, with a decrease in effective transaction orders, and the overall market is in a wait-and-see phase. The industry is generally waiting for further news to stimulate the market, and it is expected that the spot price of Co3O4 will continue to decline in the short term.
This week, the price of Co3O4 continued to decline. Despite the high raw material costs caused by the export ban in the Congo, the excessive domestic inventory also suppressed the upward momentum of prices, and spot quotes remained weak. There has been no significant improvement in downstream demand, and most LCO enterprises still focused on purchasing as needed. The market inquiry atmosphere was sluggish, with a decrease in effective transaction orders, and the overall market was in a wait-and-see phase. The industry is generally waiting for further news to stimulate the market, and it is expected that the spot price of Co3O4 will continue to decline in the short term.
