The Core Lithium Ltd (ASX: CXO) share price is leaping higher today.
Core Lithium shares are climbing 2.19% and are currently trading at $1.165 each. For perspective, the S&P/ASX 200 Index (ASX: XJO) is up 0.07% today.
Let's take a look at how Core Lithium is performing.
Lithium shares rise
The Core Lithium share price is rising, but it is not the only ASX lithium share enjoying a good day.
Piedmont Lithium Inc (ASX: PLL) shares are up 3.59%, the Allkem Ltd (ASX: AKE) share price is rising 5.34%, Mineral Resources Limited (ASX: MIN) shares are climbing 4.08%, while Pilbara Minerals Ltd (ASX: PLS) is up 1.15%.
This follows multiple lithium giants lifting on Wall Street overnight.
Albemarle Corporation (NYSE: ALB) shares jumped 2.04%, Livent Corp (NYSE: LTHM) rose 2.08%, and Sociedad Quimica y Minera de Chile (NYSE: SQM) leapt 2.03%.
As my Foolish colleague James noted today, investors appear to believe lithium prices will remain elevated amid strong demand and supply challenges.
Meanwhile, Core Lithium delivered promising news to the market yesterday. An official opening was held for the Finniss Lithium mine in the Northern Territory. This is Australia's only lithium mine in production outside Western Australia, the company said.
Core Lithium CEO Gareth Manderson said:
Core is bringing production online at a time of high lithium prices, strong global demand and constrained supply.
Core Lithium share price snapshot
The Core Lithium share price has exploded 168% in the past year, while it has lost 27% in the past month.
For perspective, the ASX 200 has shed 8.5% in the past year.
Core Lithium has a market capitalisation of more than $2 billion.
