It's a great time to be invested in ASX 200 shares in the resources sector.
Last week, the Australian Bureau of Statistics (ABS) released its preliminary international merchandise trade figures for June.
Within the release, it highlighted a fourth consecutive record month for metalliferous ores.
The report said: "Driving the increase was iron ore, up $1,043m (6%) to $17,553m. The iron ore increase was primarily price driven despite recent pressure to reduce prices."
But its not just iron ore.
The Bloomberg's Commodity Index, which reflects the broader performance of energy, metals and agriculture, has rallied from record lows in April 2020 to a 5-year high this month.
The strong performance of commodities, more broadly speaking, has seen a number of related ASX 200 shares lift to record highs.
However, the consistent theme among record makers isn't iron ore.
Image source: Getty Images
What do record-setting ASX 200 shares have in common?
It's renewables.
From lithium to nickel, there has been a surge in demand for materials used to manufacture battery technology and electric vehicles.
Which ASX 200 shares are hitting new record highs ?
BHP Group Ltd (ASX: BHP)
The BHP share price marked a new all-time high of $53.65 on Tuesday.
While BHP is one of the world's largest iron ore producers, the company recently entered into a nickel supply agreement with Tesla.
BHP CEO Vandita Pant commented on the agreement saying:
"Demand for nickel in batteries is estimated to grow by over 500 per cent over the next decade, in large part to support the world's rising demand for electric vehicles."
Mineral Resources Limited (ASX: MIN)
The Mineral Resources share price has gone from strength-to-strength in 2021. It has rallied 58.90% year-to-date to a record high of $63.85 on Monday.
Alongside the company's core mining services and iron ore operations, it also operates two high-profile lithium joint ventures with Chinese lithium giant Ganfeng and US-listed Albemarle.
Orocobre Limited (ASX: ORE)
The Orocobre share price stormed higher last Thursday, following the release of its June quarterly results.
A key highlight was the company's average realised price for its lithium carbonate. Orocobre cited a 45% quarter-on-quarter increase in prices to US$8,476/tonne free on board (FOB).
The company also hinted at ongoing discussions with Toyota Tsusho Corporation regarding "an expansion of lithium hydroxide production to meet forecast growth in demand".
Pilbara Minerals Ltd (ASX: PLS)
Pilbara Minerals is another lithium player cruising to a record close of $1.77 on Monday.
The bullish performance of Pilbara Minerals follows a similar narrative as Orocobre — driven by a jump in lithium spot prices, ramping up production to meet demand and heightened investor interest in battery and renewable sectors.
Lynas Rare Earths Ltd (ASX: LYC)
The Lynas share price rallied to an all-time high of $7.20 on Monday. This came after the company released its quarterly activities report.
Encouragingly, the report highlighted a strong uplift in the average selling price of its rare earths. This surged from $20.20 per kilo in Q4 FY20 to $39.10 per kilo in Q4 FY21.
Lynas has a unique position as one of few ASX 200 shares engaged in the production of rare earths.
