Aussie lithium stocks drop as US-Ukraine minerals deal not signed, fresh tariff woes

Pls

04/03/2025 01:14

Updates

** Shares of Australian lithium miners slump as market doubts minerals deal between the U.S. and Ukraine

** Worries around tariffs have gotten renewed attention after latest remarks by U.S. President Donald Trump

** "EV demand is more likely than not to be caught up in any increase in global trade barriers, which poses questions for lithium demand this year," said Tim Waterer, analyst at KCM Trade

** The abrupt ending to Ukrainian President Volodymyr Zelenskiy's Washington trip meant that the two countries failed to sign a minerals deal that Kyiv hoped would spur Trump to back Ukraine's war effort

** There is uncertainty surrounding US-Ukraine relations and access to rare earth minerals, added Waterer

** Mineral Resources MIN.AX loses most, down 7.8%

** Pilbara Minerals PLS.AX and Liontown Resources LTR.AX drop 2.8% and 2.3% respectively

** IGO IGO.AX trading 3.7% in the red

 (Reporting by Rishav Chatterjee in Bengaluru)

 ((Rishav.Chatterjee@thomsonreuters.com))