Yesterday, the cobalt chloride and cobalt sulfate markets extended their recent weakness, with prices continuing to decline, overall trading remaining thin, and market sentiment staying bearish. Market analysis indicates that the cobalt chloride market is facing a situation of simultaneous price declines, losses, and production cuts. As prices have fallen rapidly, mainstream smelters have fallen into a cost inversion and have been forced to maintain low operating rates to destock. There is a clear gap between producers' ideal quotations and actual executable transaction prices, resulting in very limited actual market transactions. On the demand side, downstream cathode material plants have relatively high feedstock inventories, and previously signed long-term agreements still have undelivered volumes, leaving their purchasing appetite extremely weak. Most are adopting a wait-and-see approach and focusing on inventory digestion, with only sparse small-lot transactions concluded.