"Global cobalt prices per metric ton are up more than 20% since the beginning of this year?"

 Source:
https://www.zerohedge.com/commodities/electric-vehicle-push-sends-cobalt-prices-higher

"Global cobalt prices per metric ton are up more than 20% since the beginning of this year as increasing electric vehicle demand has strained global supply chains. 

 

... cobalt (is) a metal found in lithium-ion batteries. 

Besides electric vehicles, the blue metal is found in virtually every consumer electronics like cell phones, laptop computers, and tablets. 

... every EV battery contains cobalt, with most of it mined in the Democratic Republic of Congo (DRC).

DRC has sustained years of destabilization as the Congo government and armed militants duke it out over the control of mines. 

Much of the DRC cobalt is then hauled to South Africa and shipped to China for processing.

It's not just automakers and suppliers buying cobalt from DRC, many are trying to recycle cobalt from old batteries and exploring other regions around the world for alternative sourcing.  

... with the Model 3 Tesla launch ... Cobalt prices nearly quadrupled ... before crashing down in 2019. 

... The government's push to electrify the economy would increase demand for cobalt, nickel, and manganese, among other components needed for battery-making. 

... Automakers need lithium-ion battery packs around $100 per kilowatt-hour mark for automakers to manufacture mass-market EVs - currently, at $137 per kilowatt-hour, surging prices for battery components is terrible news for automakers who are still not turning a profit on selling EVs."