On November 28, the price of electrolytic cobalt surged Yuan 5,250/t to Yuan 403,000-420,000/tonne from the previous trading day. In addition, the prices of cobalt sulfate and cobalt chloride still remained stable at Yuan 86,000-93,000/tonne and 103,000-110,000/tonne respectively. Recently, downstream demand has remained relatively subdued, primarily due to persistently high prices of cobalt raw materials. Cobalt salt smelters were refused to lower their prices, leading to elevated quotations for cobalt sulfate. Meanwhile, most downstream users have built up short-term inventory restocks. However, by the end of the week, the surge in electrolytic cobalt prices slightly boosted market inquiry activity, though purchasing remained selective, with buyers favoring lower-priced options. This has put pressure on cobalt salt plants to sell their products, resulting in a stalemate between buyers and sellers.