HK Stock Market Move | Lithium stocks rose in the afternoon. Ganfeng Lithium Group (01772) rose by 5%, while Tianqi Lithium Corporation (09696) increased by over 4%.

Lithium stocks rose in the afternoon, as of the press time, Ganfeng Lithium Group (01772) rose 5% to 25.2 Hong Kong dollars; Tianqi Lithium Corporation (09696) rose 4.55% to 31 Hong Kong dollars. On the news front, in the afternoon of July 17th, the main contract of lithium carbonate futures rose sharply, rising more than 5% at one point, now trading at 68,740 yuan/ton. Zangge Mining announced at noon today that its wholly-owned subsidiary, Golmud Zangge Potash Fertilizer Co., Ltd., received a notice from the Natural Resources Bureau of Haixi State and the Salt Lake Management Bureau of Haixi State on July 16th to immediately stop lithium resource development activities. East Sea Futures believes that on the supply side, lithium carbonate faces a contradiction between strong expectations and weak realities: "anti-internal friction" boosts macro sentiment, raw material lithium ore prices rebound significantly, but at the same time, due to narrowing smelting losses, lithium carbonate operating rates have increased, weekly production has reached new highs, and inventories continue to accumulate. On the demand side, the production of lithium iron phosphate cathode materials and batteries increased in July. Short-term lithium carbonate is expected to experience strong fluctuations.