ASX lithium stocks are staging various performances on Thursday, with some smashing the market and others struggling to stay afloat.
The diverse set of movements come as the S&P/ASX 200 Index (ASX: XJO) records a slight gain of 0.3% and the S&P/ASX Materials Index (ASX: XMJ) slumps 1.3%.
And while there’s not much news to explain what’s going on with ASX lithium stocks today, there are plenty of international happenings regarding the battery-making metal.
Let’s take a look at what’s going on with ASX lithium stocks on Thursday.
What’s going on with ASX lithium stocks today?
It’s a strange day for ASX lithium stocks.
Right now, the Mineral Resources Limited (ASX: MIN) share price is rising 1.6%. Meanwhile, stock in Pilbara Minerals Ltd (ASX: PLS) is up 0.18%, and the Piedmont Lithium Inc (ASX: PLL) share price is 0.25% in the green.
Why is lithium in the headlines?
The battery making ingredient has been in the news this week on anticipation Tesla Inc (NASDAQ: TSLA) could be looking to acquire a lithium producer.
Tesla co-founder and CEO, Elon Musk, tweeted earlier this month the company might need to source its own lithium if the price of the commodity doesn’t ease.
That’s sparked hopes the company could be looking to looking for a lithium producer to acquire, Reuters reported yesterday.
In other lithium news, Mexico’s Senate has passed legislation to nationalise the mineral’s extraction, reports the Associated Press. That means the only entity able to produce lithium in the nation will be a not-yet-created state-owned mining company.
Additionally, lithium carbonate prices in China have eased in recent days after exploding earlier in the year.
The international news may not be behind any ASX lithium stocks’ movements today. However, it might be bolstering interest in the sector.