On May 7, the price of electrolytic cobalt declined Yuan 2,050/tonne to Yuan 422,809-425,909/tonne from the previous trading day. Moreover, the prices of cobalt sulfate and cobalt chloride continued to be flat at Yuan 93,000/t-96,000/t and 113,000-118,000/t respectively.Supported by strong raw material costs, mainstream smelters of cobalt sulfate showed a clear intention to hold prices firm. However, downstream manufacturers maintained strong pressure for price reductions, while quotes from small and medium-sized plants remained stable. There is limited stockpiling for ternary precursors, with mainstream transaction prices holding steady at around Yuan 90,000/tonne. Purchases from other downstream sectors were concluded at approximately Yuan 94,000/tonne. In addition, transaction prices for cobalt chloride were stable at around Yuan 115,000/tonne.