HK Stock Market Move | Lithium carbonate futures return to the 79,000 yuan mark. Ganfeng Lithium Group (01772) rises nearly 5%. Tianqi Lithium Corporation (09696) rises over 3%.

In the afternoon, lithium stocks rose, as of the time of writing, Ganfeng Lithium Group (01772) rose by 4.8% to 44.56 Hong Kong dollars, and Tianqi Lithium Corporation (09696) rose by 3.17% to 43.66 Hong Kong dollars. On the news front, in the afternoon of October 23, the main contract of lithium carbonate futures increased by over 3%, currently trading at 79,400 yuan/ton. According to SMM, in terms of supply, both the lithium spodumene and salar ends have new production lines being put into operation, and it is expected that the total production of lithium carbonate in October still has growth potential. In terms of demand, the market for new energy vehicles in both commercial and passenger sectors is growing rapidly, and the supply and demand in the energy storage market are both flourishing. Huatai Futures pointed out that in recent days, the futures market rebounded mainly due to disturbances in the news and consumption support. Currently, total inventory is being cleared, warehouse receipts are being canceled, and there are many disturbances in the supply side with delays in production resumption and news of shutdowns. Currently, there is some support from the peak consumption season, and the short-term supply and demand situation is relatively good with continuous inventory clearance, providing some support to the market, and it is expected that the market will run with some volatility in the short term.