On May 28, the market price of electrolytic cobalt declined Yuan 5,395/tonne to Yuan 417,455-420,909/tonne. In addition, the market prices of cobalt sulfate and cobalt chloride both decreased Yuan 1,000/tonne to Yuan 91,000/t-94,000/t and 113,000-116,000/t respectively.The overall market conditions for cobalt chloride and cobalt sulfate showed a weak downward trend, with sluggish downstream demand being the primary reason for the price decline. The cobalt sulfate market was affected by both weak downstream demand and inventory pressure, leading to poor sales for holders and putting downward pressure on prices. In the cobalt chloride market, downstream users such as ternary precursor manufacturers showed low purchasing interest, mainly focusing on digesting their existing inventories. As a result, overall market trading was quiet. Some traders and smelters, in order to alleviate funding pressures, even accepted lower transaction prices.