Co3O4 quotes held steady in the range of 210,000-213,000 yuan/mt, with weekly transaction activity improving on a WoW basis. On the supply side, constrained by raw material shortages, upstream enterprises expanded their production cuts and shutdowns, and suppliers' reluctance to sell intensified further. On the demand side, benefiting from positive end-use consumption, LCO cathode plants increased their procurement frequency, and industry inventory showed a slight decline. Outlook for the future: Prices will remain in an upward trend, but the increase will narrow at the beginning of August, with limited upside room overall.
