These were the 3 best performing ASX lithium shares in September

ASX lithium shares have been in the spotlight extensively over September, but which shares performed the best?

In this post, we've rounded up the three best performers for the month of September, with the prerequisite that they are traded on the ASX and have a market capitalisation of at least $100 million.

Let's cover which ASX lithium shares beat their peers over the last month.

Global Lithium Resources Ltd (ASX: GL1)

Global Lithium was the biggest winner in September, gaining 26.31%. Shares opened for $1.71 on 1 September and closed for $2.16 at the end of the month.

Several developments helped keep Global Lithium's share price buoyant, including signing a memorandum of understanding with battery manufacturer SK On Co on 29 September. My Fool colleague James notes that the memorandum will see the companies cooperate on developing downstream integrated battery-grade lithium assets, among other ventures.

Earlier in the month, the company gave a project update for its Marble Bar Lithium Project in Western Australia. High yields of lithium spodumene concentrate were announced at the site with high lithium recoveries.

Pilbara Minerals Ltd (ASX: PLS)

Pilbara takes the silver medal for September, with its shares increasing 25.27% for the month. Shares opened for $3.64 on 1 September and ended at $4.56 when the month finished.

One standout development for Pilbara was the result of its lithium auction posted on 21 September. When the Fool reported the news, the company's shares made a new all-time high of $5.03.

The company also received a record bid from the auction of US$6,988 per dmt. That's up from the previous bids of US$6,188 per dmt in July and US$6,350 per dmt in August of this year.

Pilbara also received some positive coverage from brokers throughout the month. This included Wilsons making positive statements about the company on 26 September.

Wilsons is bullish on the expectations of Pilbara's production increasing in the future, stating:

Spodumene production is expected to increase to ~1 million tonnes by FY28, up from 360 kilo tonnes in FY22.

Argosy Minerals Limited (ASX: AGY)

And finally, there's Argosy Minerals, whose shares increased 24.69% in September. Shares opened for $0.405 on 1 September and closed for $0.505 at the end of the month.

Like other ASX lithium shares on this list, Argosy also had some positive developments to help end September with a substantial share price gain. This included an update for its Rincon Lithium Project in Argentina on 23 September. One highlight is that its rotary drilling program progressed better than expected, drilling to 350 metres at its PRP-03 production well and 253 metres at its PRP-04 well.

And on 13 September, the company was included in a roundup post of companies that engage in the production of graphite, which goes hand in hand with the demand for lithium as a critical element in the creation of batteries for electric vehicles, among other uses.

Argosy has a graphite project in Namibia, and production of the material is currently pending further review from the company while it considers funding opportunities.

How did other ASX lithium shares perform?

Below is a table of ASX lithium shares with a market cap of at least $100 million and their share price performance in September.

Below is a chart of this data in the table above.