LONDON: Investors are buying up physical cobalt anticipating that shortages of the metal, a key component of lithium-ion batteries used in electrical cars, will spur prices to their highest levels since the 2008 financial crisis.
Prices for cobalt metal have climbed nearly 50% since September to five-year peaks around US$19 (RM84.55) a pound (lb) as stricter emissions controls boost demand for electric vehicles, especially in China, struggling with ruinous pollution levels in some cities.
