Last week, the overall cobalt industry continued its off-season weak pattern, with light trading across all product categories and a further downward shift in market prices. On the cobalt salt front, the market price for cobalt sulfate continued to decline, with downstream purchases remaining limited to small volumes for essential needs, and the market lacked support from large-scale transaction volumes. Cobalt chloride saw trading nearly stalled, weighed down by sluggish demand for Co3O4 and the substitution effect of lower-priced cobalt sulfate. For electrolytic cobalt, weekly price declines widened. The digestion of hidden inventories and expectations of cobalt intermediate arrivals exerted dual downward pressure. Some older inventories showed surface oxidation issues, and spot product quality varied considerably. Traders mostly refrained from making quotations, adopting a wait-and-see stance, while the market lacked effective buying interest.