On December 2, the price of electrolytic cobalt rose Yuan 3,111/t to Yuan 413,444-415,222/tonne from the previous trading day. In addition, the price of cobalt sulfate moved up Yuan 500/t to Yuan 87,000-93,000/tonne, while that of cobalt chloride remained unchanged at 103,000-110,000/tonne. Recently, downstream demand has shown signs of recovery, and the prices of cobalt intermediates have maintained an upward trend. Cobalt salt smelters were holding firm on their quotations, with overall changes being minimal. However, old inventory in the market was gradually being depleted, leading to a steady increase in prices and a scarcity of low-priced supplies. The logic of tight raw material supply remains unchanged, and the long-term upward momentum for cobalt sulfate persists. In the near term, it will operate in a stable manner.