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Lithium and copper stocks on watch as RBA tips boom

The Reserve Bank of Australia has forecast a boom for copper and lithium exports as renewable energy generation and electric cars gain traction – according to an article in The Australian.

The article mentions the RBA notes a boom in rechargeable lithium ion battery sales is likely as exports of copper and lithium are set to drive commodity sector growth in the medium-term, while iron ore producers face a “mixed outlook”.

Lithium stocks to watch include Galaxy Resources Limited (ASX: GXY), Orocobre Limited (ASX: ORE) and Pilbara Minerals Ltd (ASX: PLS) as earnings season findings weigh on share prices across the sector.

The big names like BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: RIO) are always on watch in the iron ore space, with BHP starting off the week in the red, down 0.8%, and Rio also down 1.5%.

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Motley Fool contributor Carin Pickworth has no position in any of the 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 Scott Phillips.

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