Analysts including CRU Group expect more price gains as demand from electric vehicle sales will outstrip increases in supply. The consultant sees cobalt demand growing at a rate of about 25 percent a year through 2021 as annual electric vehicle sales reach 6 million units, from less than 2 million last year. CRU sees average prices doubling this year, analyst Edward Spencer said by email. LME cobalt traded at $32,750 a ton at the end of 2016, up 36 percent from a year before. Prices have rallied 68 percent to $55,000 a ton this year.