In October, China's Co3O4 production totaled 9,620 tonnes, with a drop of 6.32% MoM and a rising of 11.09% YoY. In October, the production of Co3O4 remained primarily focused on toll processing and the fulfillment of long-term agreements. Positioned at the transition between the off-peak and peak seasons, manufacturers adjusted their production pace during the month. This led to a slight decrease in the operating rates of top-tier producers, resulting in a month-on-month decline in Co3O4 output for October.
The production of China's Co3O4 is expected to reach 9,100 tonnes in November, which will drop 5.41% on month and rise 0.24% on year respectively. In November, the supply of cobalt intermediates in China is expected to remain tight. Smelters will continue to prioritize fulfilling long-term contracts. With demand softening from the start of the month, overall operating rates are projected to decline. Leading enterprises will further adjust their production schedules, focusing on maintaining stable deliveries. As a result, Co3O4 output in November is anticipated to decrease.
Edited by Cassie Li, lixiangying@mysteel.com
