On June 29, the market price of electrolytic cobalt declined Yuan 500/tonne to Yuan 374,773-378,591/tonne. In addition, the market price of cobalt sulfate remained stable at Yuan 86,000/t-87,000/t, while that of cobalt chloride dropped Yuan 3,000/tonne to 102,000-104,000/t.Overall, the cobalt chloride and cobalt sulfate markets continued their weak performance yesterday, reflecting sluggish downstream demand. The market exhibited a structural divergence characterized by "upward firming at the raw material end while processing margins remain under pressure." Smelters faced significant cost pressures. However, downstream sectors (such as ternary precursor and lithium cobalt oxide producers) showed tepid demand, with procurement largely limited to small lots for essential needs and severe price negotiation pressures.