Lithium Stocks Surge on Rio Tinto’s Approach to Buy Arcadium

📆 07/10/2024 11:56 a. m.
📰 BNNBloomberg

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Shares of some lithium companies surged after Rio Tinto Group made an approach for Arcadium Lithium Plc.

Seth Goldstein, equity strategist at Morningstar, joins BNN Bloomberg and talks about more on Lithium.

Lithium stocks have struggled amid excess supplies and weak demand for the key battery metal used in electric vehicles. The spot price for lithium carbonate in China is down more than 85% from its peak in 2022. Lithium miners including Liontown Resources Ltd., Sayona Mining Ltd and Lithium Americas Corp. rose more than 10% on Monday. Shares of Global X Lithium & Battery Tech ETF gained more than 5% in New York.

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