LAC - Lithium Americas in rally mode as lithium prices seen continuing higher

Lithium Americas (LAC +7.8%) pops as lithium prices continue to climb on the back of strong demand from the automotive sector; share have jumped nearly 12% since the company reported a smaller than expected Q4 loss before the open on March 17. Benchmark Mineral Intelligence's mid-March assessment shows battery grade lithium carbonate averaging $76.7K/metric tons, up 10% in just two weeks and 95% YTD after trading at $13.4K/ton in March a year ago. Benchmark says it continues to hear reports that Chinese inventory levels for hydroxide, carbonate and spodumene feedstock remain very low, thus sustaining the high price environment. "Robust demand for material, and hence high prices, will be sustained in the near-term, with expectations that the seasonal recommencement of supply from domestic Qinghai brines in the coming months will provide little relief to the growing market deficit," according to Benchmark. Lithium Americas shares appear to be "very undervalued," given

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Lithium Americas in rally mode as lithium prices seen continuing higher