On November 4, the price of electrolytic cobalt stood at Yuan 378,000-410,000/tonne, with a decline of Yuan 7,500/t from the previous trading day. In addition, the price of cobalt sulfate and cobalt chloride still remained flat. In detail, the market price of cobalt sulfate and cobalt chloride reached Yuan 86,000-93,000/tonne and 103,000-110,000/tonne. Recently, cobalt sulfate prices were firmly supported by raw material costs, and leading smelters maintained high quotations, leading to sluggish market transactions. Meanwhile, there was a clear divergence in quotations between new and old stock, quoting at around Yuan 88,000/t and 83,000-84,000/t respectively. As for the cobalt chloride market, smelters had limited spot inventory, putting pressure on downstream procurement. Thus, raw material side suspended making quotations, leading to continuously strengthening cost support and rising market optimism.