LONDON, Nov 29 (Reuters) - The price of cobalt jumped to a record high above $37 a pound on Thursday, spurred by robust demand and looming supply shortages, traders said on Thursday.

The minor metal <COB-CATH-LON> used to make batteries and aircraft components was sold by London-listed miner BHP Billiton <BLT.L> at $37.75 a pound on Thursday. That compares with prices around $35 last week, traders said.

Cobalt prices are up nearly 40 percent since January.

"There's not enough cobalt and demand from aerospace companies continues unabated," a UK-based trader said.

New sources of supply, from the Democratic Republic of Congo in particular, could be delayed, traders said.

(Reporting by Pratima Desai; Editing by Michael Roddy)