On August 24, the market price of electrolytic cobalt increased Yuan 3,500/tonne to Yuan 302,591-305,091/tonne. In addition, the market prices of cobalt chloride and cobalt sulfate remained flat at Yuan 83,000-85,000/tonne and 68,000/t-70,000/tonne respectively.The overall cobalt market continued its weak consolidation pattern, with downstream sectors such as batteries and cemented carbide procuring cautiously, primarily for essential needs, and lacking substantial transaction support.Trading in the cobalt chloride market was particularly quiet, with some producers stating that at current price levels, the market is essentially one with nominal quotes but no actual transactions. The main reason lies in the low operating rates at downstream Co3O4 plants, and the fact that some manufacturers are opting to substitute cobalt chloride with cobalt sulfate, which offers a more competitive price.