What’s with ASX 200 lithium shares today?

ASX 200 lithium shares are having a mixed day on the market, with multiple explorers in the red after rising in earlier trade.

Lithium developers on the ASX 200 include Pilbara Minerals Ltd (ASX: PLS), Core Lithium Ltd (ASX: CXO), Sayona Mining Ltd (ASX: SYA), Mineral Resources Ltd (ASX: MIN) and Allkem Ltd (ASX: AKE).

Let’s take a look at what is going on with ASX 200 lithium shares today.

Lithium explorers bounce around

Multiple lithium shares are now in the red after lifting in earlier trade. However, some ASX lithium shares remain in the green, despite retreating from their daily high.

• Pilbara Minerals shares are falling 1.76% after rising 2.9% in early trade
• Allkem shares are down 0.65% after climbing 2.16% in earlier trade
• Mineral Resources shares are 2.24% in the red after leaping 0.21% this morning 
• Core lithium shares are up 1.34% after rising 3.1% in morning trade
• Sayona Mining shares are rising 4.55% after charging 5.45% in earlier trade

ASX 200 lithium shares appear to be following a similar trend to major USA lithium shares. For example, Livent Corp (NYSE: LTHM) rose 3.7% in early trade on the New York Stock Exchange before retreating to finish 1.14% in the red. Albermarle Corporation (NYSE: ALB) soared 5.2% in early trade before pulling back to finish 3% in the green. And Sociedad Quimica y Minera de Chile (NYSE: SQM) leapt 2.7% in morning trade before finishing 1.51% ahead.

Lithium demand and supply, the lithium price and electric vehicle demand and supply are all factors that can impact lithium shares.

The lithium hydroxide price closed 0.38% lower on the London Metal Exchange. The lithium carbonate price is unchanged at 477,500 Chinese Yen per tonne, according to trading economics data.

In news this afternoon, a China consortium is planning to develop lithium deposits in Bolivia. The Bolivian government has chosen a Chinese group led by Contemporary Amperex Technology to invest more than $1 billion to develop untapped lithium deposits, Nikkei Asia reported this afternoon. Bolivia is said to have the largest lithium reserves in the world. This could be weighing on demand sentiment for lithium.

Meanwhile, analysts at Bell Potter have retained a buy rating on the Mineral Resources share price with a $110 price target, my Foolish colleague James reported today. The broker is positive on the company’s potential for earnings growth and commodity prices.

Share price snapshot

The Pilbara Minerals share price has soared 59% in the last year.

The Core Lithium share price has risen 59% in the past 52 weeks.

The Sayona Mining share price has soared 128% in the last year.

Mineral Resources shares have soared 71% in the past year.

Allkem shares have returned 55% in the past 52 weeks.

The post What’s with ASX 200 lithium shares today? appeared first on The Motley Fool Australia.

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Motley Fool contributor Monica O’Shea 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.

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