China’s demand for electric cars drives cobalt prices to highest level in two years

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Cobalt prices have soared by about a quarter since the start of the year, driven by the push for electric cars in China and the European Union, as well as Chinese stockpiling, analysts said.On Tuesday, a tonne of cobalt was selling on the London Metal Exchange for US$40,000 – its highest level in two years. The metal is largely mined in the Democratic Republic of Congo (DRC) and shipped via South African ports to international markets.It has become a strategic metal because of its use in…

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