Electric car market jumpstarts cobalt prices
The car industry needs the rare metal to make light and durable electric batteries
London
COBALT is hitting historically high prices fuelled by the car industry, which needs the rare metal to make light and durable electric batteries.
The price per tonne of cobalt rose to US$82,000 on the London Metal Exchange (LME) in mid-February, its highest level since it began tracking the commodity in 2010, and has almost tripled in value since the beginning of 2016.
Howe…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Oil settles lower as US business activity cools, concerns over Middle East ease
Orsted says Taiwan wind project to power TSMC on track for 2025 finish
Gold edges down as Middle East worries ebb
Oil rises as dollar slips, focus shifts to economic data
California to wrap up ExxonMobil plastics probe ‘in weeks’, AG says
Gold edges higher; hovers near one-week low on tempered Middle East fears