BUZZ-Lithium miners gain after EV stock rally - Reuters News
Sentiment:30 Apr 2024 03:21:22 AM
Mostly Positive
** Lithium miners gain, tracking a rise in electric vehicle (EV) stocks
** EV stocks were up on Monday tracking Tesla TSLA.O after the U.S. automaker clears key regulator hurdles for self-driving in China
** Arcadium Lithium ALTM.N jumps 16%; Albemarle ALB.N and Piedmont Lithium PLL.O gain 6.5% and 9.1%, respectively
** U.S.-listed shares of Sigma Lithium SGML.O and SQM SQM.N up 4.1% and 6.1%, each
** "Lithium stocks are rallying on improved EV sentiment, especially in China as we are also seeing Chinese EV producers rally," Morningstar analyst Seth Goldstein says to Reuters
** Goldstein also says Saudi Arabia buying lithium resources could also help lithium market sentiment
** A senior minister of Saudi Arabia told Reuters that the country is committed to sourcing lithium from overseas as it looks to produce EV batteries and invest in the electric vehicle sector
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