On March 10, the price of electrolytic cobalt slumped Yuan 7,970/tonne to Yuan 419,655-420,591/tonne from the previous trading day. In addition, the prices of cobalt sulfate and cobalt chloride both continued to be flat at Yuan 95,000/t-98,000/t and 115,000-120,000/t respectively.The cobalt sulfate market was primarily influenced by expectations of weakening downstream demand. Concerns over a decline in demand in the second quarter led precursor manufacturers to slow down their purchasing pace. Meanwhile, the relatively lower production cost of cobalt sulfate produced using the Mixed Hydroxide Precipitate (MHP) process caused market transaction prices to converge toward this cost level.