HK Stock Market Move | Lithium carbonate futures once broke through the 170,000 mark. Tianqi Lithium Corporation (09696) rose more than 4%, and Ganfeng Lithium Group (01772) rose more than 3%.

Lithium mining stocks rose in the morning session, as of the time of writing, Tianqi Lithium Corporation (09696) rose 4.28% to HKD 48.28, while Ganfeng Lithium Group (01772) rose 3.46% to HKD 68.7. On the news front, the main contract for lithium carbonate at the Guangzhou Futures Exchange once broke through RMB 170,000/ton during the day, rising over 5% to RMB 169,400/ton. Guotai Junan Futures pointed out that yesterday, lithium carbonate prices opened significantly higher, continued to rise in the afternoon, closing with an increase of over 10%, with a closing price around RMB 165,000/ton. Due to strong demand during the Spring Festival holiday and the current preference for March production, coupled with the news of production delays in Nigerian lithium mines, there was a higher premium in the post-holiday opening. Meanwhile, news of Zimbabwe's lithium mine export being stopped in the afternoon once again sparked bullish sentiment in the market, leading to a strong start in trading. Everbright Futures stated that based on February production calculations, short-term inventory levels may continue to decline, which could be a significant bullish support. It is important to note that Chile's shipping data for January showed a large increase month-on-month, although the level may not be sustainable, significant supply pressure domestically may gradually emerge. At the same time, domestic production will gradually resume in March, and whether there will be unexpected pressure on the demand side remains to be seen.