This week, the Co3O4 market continued to fluctuate upward, with an overall stable pattern. Supply side, top-tier enterprises successively raised their quotations, and the current mainstream quotations climbed to 365,000 yuan/mt. Demand side, cathode material enterprises mostly restocked based on orders, but due to a recent decrease in new orders, downstream procurement demand for Co3O4 significantly weakened. It is expected that the high price of Co3O4 has approached a temporary peak in the short term, and low-end quotations still have some room for a catch-up rise, but the overall upward momentum is limited.
