The cobalt raw material market remained in a stalemate last week, with spot quotes for cobalt intermediates holding steady at around US $25.9 per pound. No tradable transactions were reported, as both buyers and sellers adopted a wait-and-see attitude. On the supply side, the number of container vessels carrying cobalt intermediates shipped from Durban Port has increased notably since May, yet the actual number of containers destined for China remains relatively low. According to tracking and monitoring, a total of five vessels, including those already arrived at port, may be bound for China. Among them, two have completed unloading, while three are still in transit. On the demand side, weakness persists, with downstream buyers showing low purchasing willingness and noticeable delays in delivery schedules. Incremental supply is not expected until late June. Overall, logistical bottlenecks continue to tighten raw material supply, while subdued demand suppresses upward price momentum.