Business
Why the Orocobre (ASX:ORE) share price is surging
The Orocobre Limited (ASX: ORE) share price is one to keep a close eye on right now. Shares in the Aussie lithium chemical producer jumped 7.4% higher yesterday and are now up 20.1% in 2021 alone.
Why is the Orocobre share price surging right now?
It usually pays to look at ASX announcements when shares are on the move. For Orocobre, however, there have been no major announcements since its half-year results released on 26 February 2021.
Orocobre reported significant cost reduction for the half-year ended 31 December 2020 with the cost of sales coming in at US$3,777 per tonne thanks to increased operational efficiency.
Production levels fell 9% to 6,079 tonnes due to coronavirus restrictions while sales soared 21% higher to 7,738…
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