On December 19, the price of electrolytic cobalt moved down Yuan 944/tonne to Yuan 411,000-412,556/tonne from the previous trading day. Moreover, the prices of cobalt sulfate and cobalt chloride continued to be flat at Yuan 90,000/t-95,000/t and 108,000-114,000/t respectively.Last week, the cobalt sulfate market showed a pattern of firm prices but reduced trading volumes. Tight raw material supply and high prices have put significant production pressure on smelters, prompting them to maintain their firm pricing stance. On the demand side, downstream users had previously engaged in concentrated stockpiling. Additionally, as the year-end approaches, producers are tightening capital control to prepare for annual financial reporting, leading to a more cautious overall procurement strategy. Currently, the focus is on inventory digestion, resulting in weaker demand.