US Stock Market Move | Lithium mining stocks collectively surged. Citigroup: Strong demand driving recent increase in lithium prices.
On Monday, lithium mining stocks in the US collectively surged, with Sigma Lithium (SGML.US) soaring over 18%.
On Monday, U.S. lithium mining stocks collectively soared, with Sigma Lithium (SGML.US) surging over 18%, Lithium Americas (LAC.US), Sociedad Quimica y Minera de Chile S.A. Sponsored ADR Pfd Series B (SQM.US) rising over 11%, and Albemarle Corporation (ALB.US) up over 8%. In terms of news, Citigroup recently published a research report stating that the recent rise in lithium prices is mainly driven by strong demand rather than potential supply disruptions. As time goes on, Citigroup is increasingly confident in the strong battery energy storage demand that may emerge in the coming years.
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