On January 23, the price of electrolytic cobalt moved up Yuan 3,000/t to Yuan 431,227-433,500/tonne from the previous trading day. In addition, the prices of cobalt sulfate and cobalt chloride continued to be flat at Yuan 95,500/t-98,500/t and 115,000-119,000/t respectively.Last week, in the cobalt sulfate market, raw material costs continued to climb, placing significant production pressure on smelters. New cobalt sulfate supplies were generally quoted at around Yuan 97,000/tonne. However, due to the recent sharp decline in electrolytic cobalt futures prices, downstream buyers widely pushed for lower prices, with actual transactions remaining near Yuan 96,000/t.