On July 2, the market price of electrolytic cobalt rose Yuan 432/tonne to Yuan 381,673-385,591/tonne. Moreover, the market prices of cobalt sulfate continued to unchanged at Yuan 86,000/t-87,000/t and 102,000-104,000/t respectively.Demand side remained weak, downstream industries such as new energy batteries and cemented carbide are primarily purchasing on a rigid-demand, small-lot basis, with little willingness for centralized replenishment. The year-on-year and month-on-month growth in ternary battery production and vehicle installation volumes has slowed.Supply side remained ample, the overall market supply was abundant, with continued inflow of low-priced recycled materials, which exerts downward pressure on spot prices.Although policy news from the Democratic Republic of the Congo (DRC) has boosted long-term bullish sentiment in the market, downstream acceptance remains limited.