On December 29, the price of electrolytic cobalt surged Yuan 13,684/tonne to Yuan 445,389-448,500/tonne from the previous trading day. Moreover, the prices of cobalt chloride and cobalt sulfate both remained flat at Yuan 110,000-114,000/t and 90,000/t-95,000/t respectively.Trading activity in the cobalt chloride and cobalt sulfate market remained subdued. As the year-end approaches, market players have generally tightened capital controls in preparation for annual financial reporting, leading to more cautious procurement strategies and a greater focus on inventory drawdown. This shift resulted in a temporary softening of market demand. Nevertheless, persistent tight supply and persistently high prices in the raw material sector have placed significant pressure on cobalt salt smelters, keeping their quotations firm. New cobalt sulfate resources were generally quoted above Yuan 90,000/tonne, though actual transactions remained limited.