Last week, market prices for cobalt intermediates remained in a high range of USD $25.8-26.0/lb, an increase of USD $0.1/lb from before the holiday. This high level was primarily due to suppliers holding firm on prices against the backdrop of raw material shortages, with raw material costs struggling to be passed down to downstream sectors. Around the Spring Festival, downstream demand was sluggish, although a small volume of transactions was concluded at 25.8 USD/lb before the holiday. The large-scale arrival of cobalt intermediates from the Democratic Republic of the Congo is expected to be delayed until April to May. In the short term, the structural tightness in the cobalt raw material market is unlikely to ease.