On June 17, the market price of electrolytic cobalt moved down Yuan 1,273/tonne to Yuan 381,264-384,955/tonne. In addition, the market prices of cobalt sulfate and cobalt chloride continued to be flat at 88,000/t-92,000/t and 109,000-114,000/t respectively.On the supply side, market participants widely believe that previously accumulated cobalt intermediates have been arriving at ports in succession, steadily increasing the circulating supply in the market and thereby leading to an oversupply. On the demand side, downstream cathode material producers and the consumer electronics sector continue to show lackluster demand. Market players only purchased on rigid-demand, with little willingness to build large stocks. At the same time, production scheduling for ternary cathode materials has shown no growth, and consumer electronics have entered the traditional off-season, further suppressing demand.