On March 31, the price of electrolytic cobalt declined Yuan 2,691/tonne to Yuan 420,636-422,909/tonne from the previous trading day. Moreover, the price of cobalt sulfate continued to remain flat at Yuan 95,000/t-98,000/t, while that of cobalt chloride moved down Yuan 1,000/tonne to 114,000-119,000/t.Under the strong support of raw material costs, mainstream smelters held a firm stance on pricing for cobalt sulfate, while downstream manufacturers showed strong intentions to depress prices. As a result, mainstream transaction prices remained around Yuan 93,000/tonne. In addition, the transaction price of cobalt chloride remained stable at approximately Yuan 115,000/tonne. Producers opted for low-priced cobalt sulfate as raw material, while some manufacturers lacking raw materials have suspended production for maintenance. Meanwhile, downstream Co3O4 buyers demonstrated weak purchasing capacity, with limited market inquiries, leading to a decline in market quotations and transactions.