HK Stock Market Move | Lithium carbonate supply side disruption continues. Ganfeng Lithium Group (01772) drops nearly 4%, Tianqi Lithium Corporation (09696) drops over 2%.

Lithium stocks continued to decline this morning, with Ganfeng Lithium Group (01772) down 3.79% to HK$45.7 and Tianqi Lithium Corporation (09696) down 2.03% to HK$43.5. On the news front, due to supply-side disturbances, lithium carbonate futures have fallen sharply recently. On November 4th, the main lithium carbonate contract fell by over 4%, and continued to fall this morning, with the price at HK$78,520/ton at press time. According to Futures Daily, there were reports yesterday of a key breakthrough in the approval of the resumption of production of spodumene from Contemporary Amperex Technology's ore vein, but the approval situation is still uncertain. Hongyuan Futures pointed out that the current supply and demand is strong, with fluctuating news about the resumption of production in Jiangxi lithium mines. However, with high lithium carbonate production and high prices dampening downstream sentiment, the turning point for demand may be approaching. If weakening demand is confirmed, there is still room for further price declines, and it is expected that there may be a correction in lithium prices.