On November 18, the price of electrolytic cobalt moved up Yuan 1,000/t to Yuan 391,000-415,000/tonne from the previous trading day. Moreover, the prices of cobalt sulfate and cobalt chloride remained unchanged at Yuan 86,000-93,000/tonne and 103,000-110,000/tonne respectively. In terms of cobalt sulfate, the market sentiment was calm, with relatively muted downstream demand and limited transactions. In addition, the price of cobalt intermediates remained high, with the MHP cobalt payable also reaching a peak of 95%. Supported by robust production costs for cobalt salt raw materials, smelters didn't make significant adjustments to their quotations. Downstream buyers continued to prioritize inquiries for older stock with suitable prices, focusing on fulfilling essential restocking needs. Against the backdrop of gradually tightening raw material supply, the long-term upward momentum for cobalt sulfate persists.