HK Stock Market Move | In the early trading session, lithium stocks fell. Both Tianqi Lithium Corporation (09696) and Ganfeng Lithium Group (01772) dropped more than 3%.

Lithium stocks fell, as of press time, Tianqi Lithium Corporation (09696) fell 3.52% to HK$44.94; Ganfeng Lithium Group (01772) fell 3.35% to HK$48.76. On the news front, recently, lithium carbonate futures prices began to pull back. On November 4, the main contract for lithium carbonate futures fell nearly 4%, now trading at 78,860 yuan/ton. According to Futures Daily, analyst Yu Shuo from Chuangyuan Futures believes that the significant pullback in lithium carbonate futures prices on October 31 was mainly due to disturbances in the supply side. "Yu Shuo explained that as lithium carbonate prices continue to rise, the downstream willingness to stockpile at high prices is not high, spot transactions are gradually weakening, coupled with limited warehouse receipt disposal, the marginal momentum for price increases is weakening." News of the accelerated production resumption of the Contemporaneous Amperex Technology Jienxiaowa project has affected the confidence of some bulls in their positions, thereby driving down lithium carbonate futures prices.