In March, cobalt prices maintained stability as cathode makers eased restocking inventories, while Chinese cobalt sulphate prices remained steady despite a slowdown in midstream demand towards the end of the month. The rise in cobalt sulphate prices in early March was driven by an increased demand for nickel-cobalt-manganese (NCM) materials from Tier 1 cell manufacturers. Despite the fluctuations in demand and supply dynamics, both cobalt and cobalt sulphate prices showed resilience throughout the month, reflecting the cautious approach of industry players towards market conditions.