BREAKING: Macquarie and Suncorp lift variable home loan rates following the RBA’s decision to increase the cash rate; Australian shares are up 0.1pc; ANZ posts $3.1b cash profit, declares 72¢ dividend. Follow updates here.
The powerful rally in lithium stocks is not sustainable for all companies in the sector, strategists warn, meaning investors will need to become more selective if they want exposure to one of the hottest pockets of the local sharemarket.as tight supply has been met with booming demand fuelled by the transition to electric vehicles.
Prices for spodumene concentrate, which is mined by most Australian lithium producers and sent to global battery manufacturers, were fetching $US3262 a tonne by the end of March, up 504 per cent from a year earlier. Although investors have flooded into the major lithium producers, including Pilbara Minerals, Allkem and Mineral Resources, there has also been a rush to less established miners. Exploration companies have posted some of the most impressive gains, despite not yet being in production.
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