electric vehicle sales drive surge in cobalt prices

Demand and prices for battery material cobalt are soaring as electric vehicles stream out of showrooms in China and Europe, with little prospect of a significant reversal as drivers and governments move to cut carbon emissions.

The price of the metal stands at $53,000 per tonne, up 65% this year and around its highest since December 2018, having been as low as $25,000 in 2019 due to a global market surplus.

Booming electric vehicle sales drive surge in cobalt prices | Article [AMP] | Reuters

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