According to Mysteel's survey, China's lithium cobalt oxide (LCO) production in March 2026 reached 9,370 tonnes, representing a month-on-month increase of 55.91% but a year-on-year decrease of 4%. In February, operating rates were low due to the Chinese New Year holiday. Affected by the pull-forward of demand from battery cell manufacturers, LCO producers faced poor shipment conditions. As a result, LCO production in March declined compared to January 2026.
In April 2026, China's LCO production is expected to be 9,110 tonnes, down 13.16% MoM and 2.77% YoY. Due to the pull-forward of demand from downstream battery cell manufacturers, purchasing activity has been weak, with most market participants adopting a wait-and-see approach. Production remains committed to long-term agreement deliveries. Consequently, LCO production is expected to decline in April compared to March.
Edited by Cassie Li, lixiangying@mysteel.com
