HK Stock Market Move | In January, lithium mines followed the upward movement of lithium carbonate prices. Tianqi Lithium Corporation (09696) rose more than 10% intraday, while Ganfeng Lithium Group (01772) rose more than 7%.

Lithium stocks surged in the afternoon, with Tianqi Lithium Corporation (09696) rising more than 10% during the trading session. As of the time of writing, Tianqi Lithium Corporation was up 6.64% at HK$24.9, while Ganfeng Lithium Group (01772) rose 4.88% to HK$21.5. On the news front, Shanghai Ganglian E-Commerce Holdings released data showing that the price of battery-grade lithium carbonate fell by 150 yuan compared to the previous day, with the average price reported at 76,600 yuan/ton. EB SECURITIES pointed out that lithium prices have fallen to below 80,000 yuan/ton, with the possibility of accelerated clearance of production capacity in the future. It is recommended to focus on targets in the lithium mining sector with cost advantages and expansion potential in resources. Galaxy Futures previously published a research report stating that ongoing internal turmoil in Mozambique has disrupted shipping from the port of Beira, which is an important seaport for Zimbabwean lithium mines. It is estimated that this will affect the shipping volume for about one month, impacting around 50-60 thousand tons of lithium ore. Guotai Junan Futures, on the other hand, pointed out that by the end of January, the price of Australian ore with 6% lithium content had increased by 4% month-on-month to $885/ton, the price of high-grade spodumene had increased by 8% to 8,925 yuan/ton, and the price of high-grade lithium mica had increased by 8% to 1,855 yuan/ton. In January, the focus of lithium ore prices followed the center of gravity shifting with lithium carbonate prices.