On June 3, the market price of electrolytic cobalt declined Yuan 455/tonne to Yuan 416,682-419,909/tonne. In addition, the market prices of cobalt sulfate and cobalt chloride both remained flat at Yuan 90,000/t-94,000/t and 113,000-115,000/t respectively.Cobalt sulfate and cobalt chloride prices have remained weak recently. The downstream market is characterized mainly by rigid procurement, with overall transaction activity remaining subdued. The ternary battery market is being squeezed by the substitution effect of lithium iron phosphate (LFP), leading to slower growth in demand for cobalt salts. Although export controls in the Democratic Republic of the Congo (DRC) and port congestion in South Africa have had some impact on raw material supply, the core contradiction in the current market remains weak demand on the downstream side. It is expected that cobalt prices will continue their narrow consolidation pattern in the short term.