Lithium Stocks Surge on Rio Tinto’s Approach to Buy Arcadium
Shares of some lithium companies surged after Rio Tinto Group made an approach for Arcadium Lithium Plc. Lithium stocks have struggled amid excess supplies and weak demand for the key battery metal used in electric vehicles. The spot price for lithium carbonate in China is down more than 85% from its peak in 2022.