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Nikkei Asia reports that electric vehicle and EV battery manufacturers It is facing a sharp jump in prices for key metals for battery production, including lithium, cobalt and nickel, driven by strong EV sales.

Global lithium prices are currently around $13,500/ton, up 120% from 2020, while European cobalt spot prices are around $25/pound, up 70 percent. from previous year The three-month nickel futures price on the London Metal Exchange is up about 30% from a year ago to $18,000/ton now.