On January 8, the price of electrolytic cobalt slumped Yuan 5,000/tonne to Yuan 455,350-458,100/tonne from the previous trading day. In addition, the price of cobalt sulfate rose Yuan 1,000/t to Yuan 93,500/t-97,500/t, while that of cobalt chloride remained unchanged at 113,000-117,000/t.The cobalt sulfate smelters faces significant cost pressures, with quotes remaining firm. New cobalt sulfate was generally quoted around Yuan 95,000/t. However, large-volume transactions above Yuan 95,000/t are limited due to sluggish downstream demand, while small-volume chemical orders have been reported at Yuan 97,000-98,000/t.