On November 24, the price of electrolytic cobalt moved up Yuan 2,500/t to Yuan 400,000-415,000/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. Recently, downstream demand has been relatively sluggish, putting pressure on the sales of cobalt sulfate and cobalt chloride. However, with the persistently high prices of cobalt raw materials, cobalt salt smelters were also unable to lower their prices, leading to a stalemate between buyers and sellers. Downstream purchases were primarily focused on cost-effectiveness, with restocking driven only by essential needs. Against the backdrop of gradually tightening raw material supply, the long-term upward for cobalt sulfate remains. At the same time, it is anticipated that the price of cobalt chloride will continue its upward trend, with overall fluctuations primarily driven by changes in raw material costs.