On February 9, the price of electrolytic cobalt surged Yuan 14,000/tonne to Yuan 422,955-424,500/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. Supported by robust raw material costs, major smelters have demonstrated a clear intent to maintain firm pricing. The composite market price for new cobalt sulfate has stabilized at around Yuan 96,000/tonne. However, the downstream ternary precursor industry has entered its traditional off-season, with procurement limited to on-rigid demand only. This has resulted in a market environment characterized by frequent inquiries but sparse actual transactions.