HK Stock Market Move | Lithium battery stocks collectively rise, market news temporarily boosts lithium prices, lithium carbonate main contract returns above 80,000 yuan.

In the early trading session, lithium battery stocks collectively rose. As of the time of publication, Tianqi Lithium Corporation (09966) rose by 6.07% to HK$47.18; CALB (03931) rose by 5.75% to HK$31.28; Ganfeng Lithium Group (01772) rose by 4.31% to HK$47.9; Contemporary Amperex Technology (03750) rose by 2.43% to HK$548. In terms of news, the main contract for lithium carbonate on the Guangzhou Futures Exchange rose by more than 2.5% intra-day, surpassing RMB 80,500 per ton, reaching a new high in 2 months. Tonghui Futures stated that although there are expectations of new capacity release on the supply side of lithium carbonate, the rising cost of lithium spodumene and the time required for the capacity ramp-up of lithium extraction from salt lakes, as well as rumors of some lithium mines paying back lithium tantalum niobium resource taxes and safety incidents related to 414, have temporarily boosted lithium prices; the peak season effect of the Golden September and Silver October on demand may fade in the short term, and the market still worries about oversupply. Huaxi pointed out that although supply in October has steadily increased, strong demand in the power and energy storage sectors will drive the market into a phase of substantial destocking, forming a phase of tight supply. In terms of upstream mines, the overseas mining end continues to maintain a firm pricing trend; other holders have significantly reduced inventories in the previous period, with a strong reluctance to sell at present, and prices are fluctuating in sync with futures prices. Downstream lithium salt factories, maintaining the production pace of the previous period, have kept their demand for raw materials at a high level, with purchasing intentions slightly higher than the previous period. Overall, the lithium ore market has a tight spot supply, with market inquiries and transaction activity higher than in the previous period.