Is it too late to buy surging ASX lithium shares like Mineral Resources and Liontown?

ASX lithium shares, including Mineral Resources Ltd (ASX: MIN) and Liontown Resources Ltd (ASX: LTR), have been on a tear over the past half year.

Both stocks are posting strong intraday gains today.

And amid resurgent global lithium prices, they’ve smashed the benchmark returns these past six months.

Here’s what I mean.

Since market close on 23 June, the All Ordinaries Index (ASX: XAO) has gained a modest 3.2%.

Over this same time, the Mineral Resources share price has surged 167.6%, while Liontown shares have leapt 129.1%.

Here’s how some of the other fast-rising ASX lithium shares have performed over the last six months:

• Pls Group Ltd* (ASX: PLS) shares are up 231%
• IGO Ltd (ASX: IGO) shares have gained 102.7%
• Core Lithium Ltd (ASX: CXO) shares are up 225.0%

(*Formerly Pilbara Minerals, with the company name changed in early December.)

Clearly, shareholders will be pleased with the past half-year’s returns.

But those are all in the rearview now.

Which brings us back to our headline question.

Is it too late to buy these surging ASX lithium shares now?

What’s been lifting the Aussie lithium miners?

Before we look ahead, first it’s important to note what’s been sending Mineral Resources, Liontown, and the other Aussie lithium stocks rocketing.

As mentioned up top, that’s largely due to sharply rebounding global lithium prices.

Indeed, we’re seeing lithium carbonate prices trading at their highest levels in 18 months, while spodumene (a lithium bearing mineral) is trading at its highest levels in two years.

And we need look no further than China, the world’s top lithium consumer, to discover the fuse that’s been lit under ASX lithium shares these past months.

On the supply side, China’s government sent lithium prices jumping last week following news that it had revoked a number of expired mining permits that were reportedly focused on lithium.

While that move is unlikely to have a material impact on global lithium production, markets nonetheless appear to be anticipating tighter supplies amid rising demand.

The lithium price and ASX lithium shares have also been catching tailwinds from expectations of increasing demand.

As Trading Economics notes, China recently said it aims to double the nation’s EV charging capacity to 180 gigawatts by 2027. And with EV sales rapidly increasing in China, major lithium producer Ganfeng said it expects a 30% increase in lithium demand next year.

Can these surging ASX lithium shares keep rocketing in 2026?

Despite the huge gains over the last six months, Mineral Resources shares, Liontown shares, and indeed most all ASX lithium shares are still trading well below their 2022 and early 2023 highs.

And there are good reasons to believe they can keep outperforming in 2026.

According to Reg Spencer, a mining analyst at Canaccord Genuity (quoted by The Australian Financial Review):

Fundamentals of the lithium market are strong. We’ve seen pretty much every broker on the planet upgrade their forecasts so it’s a great set-up heading into 2026.

The reality is that spodumene prices have doubled, chemical prices in China have almost doubled, and I still haven’t seen any new Western greenfield projects sanctioned. And as the market gets bigger, you need more projects to come online to satisfy demand.

The post Is it too late to buy surging ASX lithium shares like Mineral Resources and Liontown? appeared first on The Motley Fool Australia.

More reading

• Forget Pilbara Minerals shares, this ASX lithium stock could be better
• Here are the top 10 ASX 200 shares today
• Alert! Analysts name 3 ASX 200 shares to sell today
• Up 263% since April are Mineral Resources shares still a good buy today?
• These are the 10 most shorted ASX shares

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.