In November 2025, China's production of lithium cobalt oxide (LCO) reached 11,801 tonnes, marking a month-on-month increase of 0.49% and a year-on-year growth of 26.21%. In November, downstream battery cell manufacturers had largely completed their annual stockpiling and began signing orders for the first quarter 2026. With demand for the next year being brought forward, LCO producers maintained stable production and delivery based on orders, resulting in a slight month-on-month increase in output for November.
In December 2025, China LCO production is projected to be 11,336 tonnes, reflecting a month-on-month decrease of 3.94% but a year-on-year increase of 10.60%. December falls within a seasonally weak demand period, and downstream battery cell manufacturers have been cautious in signing orders for the next year, with first-quarter orders not yet fully secured. While LCO producers continue to maintain stable deliveries, supply is expected to decline in line with weakening demand. As a result, LCO production is anticipated to show a downward trend in December.
Edited by Cassie Li, lixiangying@mysteel.com
