Are ASX lithium shares making a comeback?

ASX lithium shares have rallied significantly following President-elect Joe Biden’s call for a clean energy revolution in the US. In November, the Pilbara Minerals Ltd (ASX: PLS) share price is up 70% to an 18-month high of 73 cents, the Galaxy Resources Limited (ASX: GXY) share price is up 60% to a 22-month high of $2.21 and the Orocobre Ltd (ASX: ORE) share price is up 50% to a year-to-date high of $3.98. 

Could ASX lithium shares be making a comeback in FY21 or is this just a short-lived period of hype? 

Lithium spot price remains weak

Despite a global commitment to reducing carbon emissions, this has not yet translated to higher lithium prices. Fastmarkets have provided the following updates for November: 

• China’s…