Last week, the cobalt market remained largely in a weak off-season pattern, with downstream demand continuing to be sluggish and industry competition intensifying further. In the cobalt salt segment, trading was quiet. Both cobalt sulfate and cobalt chloride remained in a cost-driven bargaining phase, with downstream procurement expected to be postponed until after August. Electrolytic cobalt reverted to a slow downtrend, as traders adopted a strong wait-and-see stance, while the increased supply from recycled cobalt sources and the summer holiday factor jointly weighed on prices. Co3O4 and lithium cobalt oxide (LCO) underwent range-bound consolidation, as end-consumer electronics orders had not yet picked up and large-scale restocking had not commenced, with battery cell manufacturers also slowing their purchasing pace.