On June 8, the market price of electrolytic cobalt dropped Yuan 1,500/tonne to Yuan 408,091-411,409/tonne. Moreover, the market prices of cobalt sulfate and cobalt chloride continued to remain unchanged at Yuan 90,000/t-94,000/t and 113,000-115,000/t respectively.In the cobalt chloride market, downstream demand remained weak, with purchasing primarily driven by essential needs, resulting in a state of fragile supply-demand balance. In the cobalt sulfate market, overall performance was sluggish, with actual transaction prices continuing to decline, and downstream ternary precursor producers showing limited purchasing willingness. Overall, the market is currently characterized by a mix of bullish and bearish factors, with price trends still in the process of finding direction. Downstream players are drawing down inventories while making only small, need-based restocking purchases.