Hyperdrive
Surge in Lithium Stocks Raise Hope Rout in EV Metal Almost Done
- Shares of Chinese companies Tianqi, Ganfeng jumped Wednesday
- Downtrend for the EV metal is nearing an end: China Futures
Lithium ore.
Photographer: Carla Gottgens/BloombergThis article is for subscribers only.
A sudden jump in the share prices of Chinese lithium producers is spurring optimism that a rout in the electric vehicle battery metal may be coming to an end.
China’s two biggest producers — Tianqi Lithium Corp. and Ganfeng Lithium Group Co. — closed up 6.5% and 7%, respectively, in Hong Kong on Wednesday. The sharp gains suggest investors may be positioning themselves for a recovery in prices.