Why ASX lithium shares are running hot in 2021

ASX lithium shares across the board have jumped higher in the new year.

At the time of writing, the Galaxy Resources Limited (ASX: GXY) share price leads the pack, gaining 11% today. The Orocobre Limited (ASX: ORE) share price is 8.81% higher and the Pilbara Minerals Ltd (ASX: PLS) share price is 7.75% higher. 

Breath of life into ASX lithium shares

ASX lithium shares have surged in recent months on the back of bottoming lithium prices and increasing optimism for a renewables revolution. 

Lithium spot prices have been in a downtrend since 2018, when the industry was inundated with new producers and supply. It wasn’t until recently that lithium prices finally began to bottom. 

Fastmarkets has revealed that most producers…