Here are the 3 most heavily traded ASX 200 shares on Monday

ASX 200 lithium stocks are dominating the share market's trading volumes today.

Sebastian Bowen

Author Bio Sebastian Bowen has been a Motley Fool contributor since late 2018. Sebastian found his passion for writing and educating others about shares and all things finance after completing his studies in political, economic and social science and enjoys bringing this passion to life at the Fool. His investment philosophy is a simple one – buying high-quality companies at prices that make sense. When he’s not researching his next investment at all hours of the morning, Sebastian enjoys classic movies and likes to unwind with a good book, newspaper or record. Areas of Expertise Dividend investing ETFs Education Bachelor of Political, Economic, and Social Sciences (Government and International Relations), University of Sydney Social Media X/Twitter Favorite Investment Quote "In the short run, the market is a voting machine, but in the long run, it is a weighing machine." – Benjamin Graham

Published May 8, 2023 3:28 pm AEST

It's been a fairly positive start to the trading week for ASX shares so far during this Monday's session. After a rocky week last week, the S&P/ASX 200 Index (ASX: XJO) is comfortably in the green at present, with a happy gain of 0.69%. That lifts the ASX 200 to around 7,270 points.

Let's hope this optimism holds out for the rest of the week's trading. But let's now dive a little deeper into the rise by taking a look at the ASX 200 shares at the peak of the share market's trading volume charts right now, according to investing.com.

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The 3 most traded ASX 200 shares by volume this Monday

Lynas Rare Earths Ltd (ASX: LYC)

First up this Monday is the rare earths producer Lynas. This session has seen a solid 10.26 million Lynas shares bought and sold at this point of the day. This one isn't too hard to figure out. The Lynas share price is having a cracking day today. Currently, the company is sitting on a gain of 12.31% at $7.39 a share.

This comes after Lynas revealed it will now be permitted to keep its Malaysian cracking and leaching plant open until 2024, an extension of six months. Investors have clearly given their tick of approval, with this rather massive gain easily explaining the high trading volumes we are seeing.

Core Lithium Ltd (ASX: CXO)

Next up we have an ASX 200 lithium share in Core Lithium. So far today, a significant 25.1 million Core shares have swapped owners on the ASX. It seems another big share price rise is to thank for this high volume. As we went through this morning, most ASX lithium shares are off to the races this Monday.

The trend seems to have been triggered by optimism that Chinese demand for lithium could be on a comeback. In Core Lithium's case, the company is enjoying a meaningful 7.77% bounce to $1.04 a share.

Pilbara Minerals Ltd (ASX: PLS)

Finally today, let's take a gander at another ASX 200 lithium share, Pilbara Minerals. An impressive 36.65 million PIlbara shares have changed hands as it currently stands.

It seems that similar factors are also at play with the Pilbara share price. In this case though, the company is 'only' enjoying a 5.23% boost to $4.63 a share. Even so, it's this jump that can explain why so many shares are flying around today.

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