On August 13, the market price of electrolytic cobalt dropped Yuan 1,431/tonne to Yuan 319,864-323,136/tonne. Moreover, the market price of cobalt chloride declined Yuan 2,000/tonne to Yuan 87,000-89,000/tonne, while that of cobalt sulfate remained stable at Yuan 75,000/t-79,000/tonne.Yesterday, cobalt chloride market prices generally declined, with trading activity remaining sluggish. The price drop was mainly attributed to weak demand from downstream Co3O4 producers and the substitution effect from low-priced cobalt sulfate. Downstream buyers showed low purchasing willingness, only maintaining essential restocking without any bulk transactions. Some spot orders even required price concessions to conclude deals.Difficulties in concluding transactions are a core characteristic of the current cobalt sulfate market. Downstream precursor manufacturers have low order visibility and weak purchasing appetite, restricting their procurement to essential needs only.