HK Stock Market Move | Lithium mine stocks performed strongly in the morning trading session, as overseas lithium mines reduced production and downstream demand increased. The price of lithium carbonate has also been continuously rising recently.

In the early trading session, lithium mining stocks showed strength, as of the time of writing, Ganfeng Lithium Group (01772) rose by 3.7% to HK$25.2, and Tianqi Lithium Corporation (09696) rose by 2.79% to HK$29.5. On the news front, on October 30th, Australian lithium mining company Pilbara Minerals announced plans to put its Ngungaju plant into maintenance mode starting from December 1st, while also lowering its lithium concentrate production guidance for the 2025 fiscal year by 100,000 tons to 700,000-740,000 tons. Australian Liontown also announced a production cut plan, lowering its ore production target at the end of the 2027 fiscal year from 3 million tons annually to 2.8 million tons. Previously, the world's largest lithium miner, Albemarle of the United States, also announced a suspension of its expansion plans in Australia. It is reported that the main contract for lithium carbonate has been continuously rising recently, with a nearly 4% increase in today's trading session, reaching a high of 84,500 yuan/ton. Analysts point out that the recent behavior of Australian lithium mining companies in supporting prices through production cuts and shutdowns has provided some support for stabilizing lithium prices. At the same time, the expectation of increased production in cathode materials and electric battery manufacturers may also stimulate enthusiasm for lithium carbonate procurement, and play a positive role in stabilizing lithium prices.