On September 3, the market price of electrolytic cobalt remained stable at Yuan 303,591-306,091/tonne. At the same time, the market prices of cobalt chloride and cobalt sulfate were flat at Yuan 83,000-85,000/tonne and 68,000/t-70,000/tonne respectively.September is traditionally a peak consumption season, yet downstream purchasing appetite remains extremely weak, and overall market transactions are sluggish. For cobalt chloride, downstream producers of Co3O4 and lithium cobalt oxide have placed very few orders due to their own poor order books. As for the cobalt sulfate market, downstream ternary precursor manufacturers are only replenishing stocks in small quantities on an as-needed basis.Although quoted prices appear stable in the range of Yuan 68,000-71,000/tonne, the market is actually under significant downward pressure. The primary reasons are weakening cost support and a short-term supply increase driven by higher Co3O4 production.