Pilbara Minerals Ltd shares just jumped 12% to an all-time high

The Pilbara Minerals Ltd (ASX:PLS) share price hit an all-time high on Monday. Here's why…

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The Pilbara Minerals Ltd (ASX: PLS) share price continued its strong run on Monday, finishing the day 12% higher at an all-time high of $1.15.

This brought Pilbara Minerals' year-to-date return to a massive 130%.

What happened?

Almost all lithium miners jumped higher today after Orocobre Limited (ASX: ORE) announced its lithium pricing for the June 2018 half.

Due to strong demand and a tight market, Orocobre advised that it has locked in a 25% increase in prices for the half. For the most recent quarter, the lithium miner expects to command a price of over US$11,000 a tonne.

Furthermore, its CEO believes that demand will continue to outstrip supply for the foreseeable future, leading to further increases in prices.

This has many investors expecting that Orocobre and fellow miners Pilbara Minerals and Kidman Resources Ltd (ASX: KDR) could be positioned for bumper profit growth in 2018.

Motley Fool contributor Motley Fool Staff has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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