On May 27, the market price of electrolytic cobalt declined Yuan 1,136/tonne to Yuan 422,745-426,409/tonne. Moreover, the market prices of cobalt sulfate and cobalt chloride remained stable at Yuan 92,000/t-95,000/t and 113,000-118,000/t respectively.Demand in major downstream consumption sectors, such as NCM precursors for ternary batteries, remained weak, with market participants primarily focused on destocking and essential procurement only. This has resulted in sparse spot market transactions and insufficient momentum for price increases. Although upstream cobalt intermediates enjoyed relatively strong cost support due to tight transportation capacity and bullish sentiment among holders, persistently weak downstream demand continues to weigh on cobalt salt prices. This has led to an impasse characterized by "high costs but weak demand." In the short term, as downstream orders show no clear signs of recovery, market participants generally hold a strong wait-and-see attitude.