Business
Why the Orocobre (ASX:ORE) share price is zooming 7% higher today
The Orocobre Limited (ASX: ORE) share price has been a strong performer on Monday.
In afternoon trade, the lithium producer’s shares are up a sizeable 7% to $5.20.
Why is the Orocobre share price zooming higher?
There appear to have been a couple of catalysts for today’s strong gain by the Orocobre share price.
One of those is the increasingly bullish sentiment in the industry due to improving lithium prices. This is being driven by an expected increase in demand for the battery making ingredient thanks to electric vehicle adoption and increased investment in renewable energy.
It isn’t just the Orocobre share price charging higher. Also on the rise today have been the Galaxy Resources Limited (ASX: GXY) share price with a 6%…
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