After hitting near-decade highs in cobalt prices in early 2018 reaching US$100,000 per tonne, prices for cobalt used in the global electric battery supply chain slipped down by 45% over the following 2 years. With the upsurge in Electric (EV) vehicle demand over 2020 and into 2021, cobalt prices have surged again in January 2021. March 2021 cobalt price index shows prices gaining month on month to US$54,000 per tonne on 19 March 2021. Making gains of 35% over 2 months from January 2021.