Liontown Resources Ltd (LTR.AU) saw its stock price surge 6.99% in intraday trading, reaching its highest level since January 2024. The rally comes as Australian lithium miners experience a broad uptick, driven by optimistic forecasts for the battery metal's demand.

The chairman of Ganfeng Lithium Group, a major Chinese producer, has projected a significant increase in lithium demand. The forecast suggests growth rates of 30% to 40% for 2026, potentially pushing lithium carbonate prices above 150,000 yuan, or even 200,000 yuan per ton. This bullish outlook has sparked investor interest in lithium-related stocks across the board.

Other Australian lithium miners also benefited from the positive sentiment, with IGO and Pilbara Minerals climbing as much as 8.3% and 5.6% respectively, reaching their highest levels since May 2024. The optimism extends beyond Australia, as lithium stocks in the United States, including Albemarle and U.S.-listed shares of Chile's SQM, also traded higher, indicating a global market response to the projected demand growth.