HK Stock Market Move | Lithium carbonate breaks through the 120,000 mark, with Ganfeng Lithium Group (01772) rising over 3% and Tianqi Lithium Corporation (09696) rising over 2%.

The lithium industry continues to rise, as of press time, Ganfeng Lithium Group (01772) rose by 3.47% to 58.1 Hong Kong dollars; Tianqi Lithium Corporation (09696) rose by 2.92% to 54.55 Hong Kong dollars. On the news front, on December 23, the price of lithium carbonate futures broke through the 120,000 yuan/ton mark, with a gain of over 5% on that day. This morning, the main contract for lithium carbonate rose by over 5% again, reaching 124,360 yuan/ton as of press time. China Securities Co., Ltd. pointed out that a large mica lithium mine in Jiangxi conducted its first environmental impact assessment on December 18. According to the normal public notice and approval process, the resumption of production is expected to be delayed again, with no hope of resuming production in December and difficulties in resuming production within January. The expectation of further weakening of accumulated inventory in the off-peak season will provide support for the continued rise in prices next year. The bank believes that if the resumption of production at the mine continues to be delayed and the off-season inventory accumulation is less than expected, it will be difficult to support the demand in the busy season in the second quarter, amplifying the upward elasticity of lithium prices. In addition, the China Nonferrous Metals Industry Association Lithium Branch recently released the operation of the lithium industry in November 2025. In November 2025, the price of lithium carbonate futures gradually rose, and the volatility gradually increased. The performance of lithium companies in the third quarter report has rebounded, and the market is optimistic about future lithium price expectations. On the supply side, market inventory is gradually accelerating, disruptions continue in the lithium mine under Contemporary Amperex Technology, lithium salt production has slightly declined, lithium spodumene production has slightly increased, and lithium mica production has slightly decreased. On the demand side, new energy vehicles are rushing to sell before subsidies are reduced, and energy storage performance is outstanding.