Prices for essential battery metals are trending upward to start the year, as purchasers place bets that electric vehicles (EVs) and green infrastructure investment will characterize the post-COVID global recovery.

Cobalt, a key input in the cathodes of lithium-ion batteries, is no exception. Cobalt prices on the London Metal Exchange went vertical to start the New Year, increasing from approx. $30,000 per ton to $52,000 as of March 3.

The prices of lithium and nickel have been on a similar upward trajectory.