As the demand for EVs grow, so does the demand for the materials for batteries for EVs. Cobalt is a key component for lithium ion batteries andcobalt pricing is up 65%this year and at its highest price since December 2018. The demand for cobalt is expected to continue for the year and is expected to be around an 18% increase from last year. As we speak, some manufacturers are currently working on developing battery systems that are cobalt free. Will the demand for cobalt continue?
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