Group 1: Overview of Cobalt Tetroxide - Cobalt Tetroxide, with the chemical formula Co3O4, is a mixed valence compound containing both divalent and trivalent cobalt, with a theoretical cobalt content of 73.43% and oxygen content of 26.57% [1][2] - It is a crucial raw material for producing lithium cobalt oxide, which is the most commercially viable lithium-ion battery cathode material and has been widely used in high-end consumer electronics due to its high volumetric energy density and excellent packing density [1][2] Group 2: Market Dynamics - In 2024, China's apparent demand for Cobalt Tetroxide is projected to reach 91,000 tons, representing a year-on-year increase of 24% [1][13] - The production of Cobalt Tetroxide in China is expected to be 94,000 tons in 2024, with a growth rate exceeding 20% compared to the previous year [1][10] - The main production regions for Cobalt Tetroxide in China include Hunan, Zhejiang, Fujian, and Hebei, accounting for 82% of total production [1][12] Group 3: Supply and Demand - The supply of Cobalt Tetroxide is expected to increase significantly in 2024, driven by stable demand from major manufacturers and a recovery in the consumer electronics market [1][10] - The first quarter of 2024 saw increased orders for Cobalt Tetroxide due to low inventory levels and pre-holiday stocking, leading to a notable rise in production [1][10] - The demand for Cobalt Tetroxide is closely linked to the performance of lithium cobalt oxide manufacturers, with a notable increase in demand observed in the third quarter of 2024 [1][10] Group 4: Trade and Export - In 2024, China's Cobalt Tetroxide exports are expected to reach 3,509.5 tons, marking a year-on-year increase of 15.1%, while the export value is projected to be $6,385.4 million, down 17.9% [1][16] - South Korea is the largest destination for China's Cobalt Tetroxide exports, accounting for 61.4% of total exports, followed by Spain and Belgium [1][17] Group 5: Industry Structure - The domestic market for Cobalt Tetroxide is characterized by high concentration, with major players including Zhongwei Co., Huayou Cobalt, and Greeenme, which together hold over 50% of the market share [1][20] - Zhongwei Co. is recognized as the largest supplier of Cobalt Tetroxide globally [1][20] Group 6: Cobalt Tetroxide Applications - Cobalt Tetroxide is primarily used to produce lithium cobalt oxide, which is a key component in lithium-ion batteries, and its quality significantly impacts the performance and cost of the final product [1][28] - The production of lithium-ion batteries in China is expected to continue its growth trend, with total production reaching 1,170 GWh in 2024, a 24% increase year-on-year [1][30]