Last week, the cobalt salt market saw high inquiry activity. On the supply side, most cobalt salt smelters were currently maintaining low operating rates. Recycled smelters faced tight spot availability, while primary smelters were under cost pressure and showed low willingness to sell at discounted prices. On the demand side, inquiries from ternary precursor manufacturers were gradually increasing, and Co3O4 producers still exhibited restocking intent. Driven by both rising costs and downstream inventory drawdowns, high-priced transactions were gradually materializing in the market.