Aussie lithium miners rise as Macquarie points to improving sentiment

Elevra Lithium

07/03/2024 02:13

** Analysts at Macquarie say the sentiment for the broader
lithium market is improving on the back of recent supply
response from Australian miners
    ** Aussie lithium players Mineral Resources  MIN.AX , Sayona
Mining  SYA.AX , Liontown Resources  LTR.AX  and IGO  IGO.AX 
are all trading in the green
    ** MIN shares gain 3.3%, SYA up 1.2%, LTR adds 1.6% while
IGO rises 1.1%
    ** Macquarie says the recent slump in prices of the metal
used to make batteries for electric vehicles has resulted in
Aussie miners announcing output cuts and delays to projects
    ** Market sentiment improved in late February, with modest
increase in spot lithium carbonate and hydroxide price,
Macquarie adds
    

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))