Lithium miners gain after EV stock rally

Sigma Lithium

29/04/2024 16:21

** 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     

 (Reporting by Sourasis Bose in Bengaluru)
 ((Sourasis.bose@thomsonreuters.com))