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Electric-vehicle surge sends cobalt prices soaring
Already a shortage of semiconductors is slowing the recovery in auto production
(Bloomberg)Premium
Yang Jie
, The Wall Street Journal
China controls big chunk of market for key metal in car batteries that is mined largely in Africa
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A 20% rise in the price of cobalt since the beginning of this year shows how the rush to build more electric vehicles is stressing global supply chains.
Already a shortage of semiconductors is slowing the recovery in auto production. Now cobalt, a blue metal that is needed for many types of batteries including those in EVs, is a concern, according to people in the auto and battery industries and analysts.