HK Stock Market Move | Lithium carbonate futures drop below 150,000 yuan mark. Ganfeng Lithium Group (01772) falls more than 4%, Tianqi Lithium Corporation (09696) falls more than 3%.

The two giants of lithium mines are declining. As of the deadline for submission, Ganfeng Lithium Group (01772) fell by 4.19% to 64 Hong Kong dollars; Tianqi Lithium Corporation (09696) fell by 3.5% to 55.1 Hong Kong dollars. On the news front, on January 16, lithium carbonate touched the limit down during the session, breaking below the 150,000 mark. Huatai Futures believes that due to the recent regulatory policies from the Shanghai Futures Exchange and the continuous high prices in the past two years, the price of lithium carbonate has been in a continuous correction trend. The bank pointed out that there is currently a significant difference between the long and short positions, the demand for downstream energy storage remains hot this week, showing a certain destocking state, but the transmission of lithium carbonate prices to the battery end is poor, and the current prices are still at a high level in the past two years. It is expected that the prices will still show a wide-range oscillation trend, with a risk of correction. In the future, attention should be paid to whether the overall downstream consumption situation can drive the transmission of the lithium carbonate value chain.