Business
The Galaxy Resources (ASX:GXY) share price has rocketed 20% in 2021
The Galaxy Resources Limited (ASX: GXY) share price has soared more than 20% in the four trading sessions so far this year. Shares in the lithium producer are up 6.46% today alone, with the Galaxy share price sitting at $2.80 per share at the time of writing.
Stronger spot prices lifting ASX lithium shares
It has been a challenging few years for lithium producers where prices continued to grind lower following an influx of producers and lack of demand since late 2018.
Orocobre Limited (ASX: ORE) is a good example of a producer that was struggling to produce on a profitable basis. In its September quarter 2020 update, the company produced 2,353 tonnes at an average cost of US$3,974 per tonne but an average price received of…
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