The Pilbara Minerals Ltd (ASX: PLS) share price continued its strong run on Monday, finishing the day 12% higher at an all-time high of $1.15.
This brought Pilbara Minerals' year-to-date return to a massive 130%.
What happened?
Almost all lithium miners jumped higher today after Orocobre Limited (ASX: ORE) announced its lithium pricing for the June 2018 half.
Due to strong demand and a tight market, Orocobre advised that it has locked in a 25% increase in prices for the half. For the most recent quarter, the lithium miner expects to command a price of over US$11,000 a tonne.
Furthermore, its CEO believes that demand will continue to outstrip supply for the foreseeable future, leading to further increases in prices.
This has many investors expecting that Orocobre and fellow miners Pilbara Minerals and Kidman Resources Ltd (ASX: KDR) could be positioned for bumper profit growth in 2018.
