In November 2025, China's production of Co3O4 reached 10,150 tonnes, marking a month-on-month increase of 5.51% and a year-on-year growth of 11.27%. In November, downstream battery cell manufacturers brought forward their demand for the first quarter 2026 driving demand for upstream raw materials. Co3O4 producers were produced according to demand to fulfill order deliveries, resulting in a month-on-month increase in output for November.
In December, China's production of Co3O4 is projected to be 10,140 tonnes, reflecting a slight month-on-month decline of 0.10% and a year-on-year decrease of 3.24%. In December, the domestic supply of cobalt raw materials remains tight, and smelters are prioritizing the delivery of long-term contracts. Additionally, seasonal weakening of demand has led to a slight reduction in overall market operating rates. As a result, Co3O4 production is expected to decrease slightly in December.
Edited by Cassie Li, lixiangying@mysteel.com
