US Stocks Move: Lithium Mining Stocks Strengthen Pre-market, Albemarle Up Over 2%, Lithium Argentina AG Up Over 3%
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By:格隆汇
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Gelonghui January 13th|Albemarle (ALB.US), which closed up 4.98% yesterday, continued to rise by 2.12% in pre-market trading today, reaching $172.92. Lithium Argentina AG (LAR.US), which closed up 7.31% yesterday, also continued to rise by 3.2% in pre-market trading today, reaching $7.73. On the news side, the global lithium metal market is showing a significant bottoming rebound trend. Scotiabank in Canada has upgraded the ratings of lithium producers Albemarle and Lithium Argentina AG from “sector perform” to “outperform,” setting target prices of $200 and $7.75, respectively. Scotiabank analyst Ben Isaacson predicts total lithium demand will reach 2.8 million tons by 2030, with the demand range from pessimistic to optimistic scenarios being 2.5 to 3.2 million tons; under the baseline scenario, the compound annual growth rate of lithium demand over the next five years is about 14%, with a range of 12% to 17%. (Gelonghui)
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