HK Stock Market Move | Afternoon drop in lithium stocks, short-term sentiment premium on the supply side has subsided, lithium carbonate down more than 6% within the day.

Lithium stocks fell in the afternoon. As of the time of writing, Ganfeng Lithium Group (01772) fell by 4.66% to 56.3 Hong Kong dollars, and Tianqi Lithium Corporation (09696) fell by 2.72% to 40 Hong Kong dollars. On the news front, on Thursday, the lithium carbonate futures contract fell by 6% intraday. Zhongyuan Futures stated that the lithium carbonate market has been fluctuating, with the main contradiction being the short-term emotional premium brought about by supply-side disturbance news, and the realistic resilience between low purchasing on the demand side and inability to chase higher. The current price has broken through key support, and the market is reassessing the effectiveness of the fundamentals and cost support. It is reported that in early March, Zimbabwe suddenly announced the immediate suspension of lithium concentrate and other mineral exports, with the resumption time to be notified later. Goldman Sachs previously pointed out that the impact of this export suspension on the short-term surge in lithium prices is actually limited, more reflecting short-term emotional factors rather than a substantial change in fundamentals.