HK Stock Market Move | Lithium mining stocks rise again, industry's leading companies are optimistic about the outlook, institutions are bullish on lithium price supply pressure shifting towards demand-driven.

Lithium mining stocks surged again. As of the time of writing, Tianqi Lithium Corporation (09696) rose by 4% to HK$49.88, while Ganfeng Lithium Group (01772) rose by 2.76% to HK$51.05. On the news front, on November 26, lithium carbonate futures contract 2605 rose by over 5%, reaching a high of 99,880 yuan per ton. Tianqi Lithium Corporation Chairman Jiang Anqi publicly stated on November 25 that with the rapid growth of demand for renewable energy grid connection, commercial electric vehicles, and other electrification equipment, the demand for basic lithium materials in the energy storage and power battery sectors continues to rise. The global demand for lithium is expected to reach 2 million tons of lithium carbonate equivalent by 2026, basically reaching a supply-demand balance. The week before, Ganfeng Lithium Group Chairman Li Liangbin predicted that if the demand for lithium carbonate increases by more than 30% or even 40% next year, supply may not be able to match it in the short term, and prices may exceed 150,000 yuan per ton, or even reach 200,000 yuan per ton. China Securities Co., Ltd. previously pointed out that in the medium to long term, the continuous strengthening of energy storage demand has led to a round of price increases in the entire lithium battery industry chain, and the supply and demand fundamentals of lithium carbonate have also improved significantly. Based on static forecasts, global lithium resource supply is expected to reach 208.9 million tons by 2026, with consumption at 200.4 million tons. Without considering the cathode link and trader stocking situations, the surplus is only 85,000 tons, smaller than in 2025. Considering industry chain stocking, a structural shortage of lithium is expected in 2026, and the lithium price driver will shift from supply pressure to demand-driven upward movement.