HK Stock Market Move | Lithium mining stocks rise in the afternoon, Ganfeng Lithium Group (01772) surged by 9% at one point, and Tianqi Lithium Corporation (09696) saw an increase of nearly 7%.

Lithium mining stocks rose in the afternoon, with Ganfeng Lithium Group (01772) rising 9% at one point and Tianqi Lithium Corporation (09696) rising nearly 7%. As of the time of writing, Ganfeng Lithium Group rose 5.49% to HK$58.6, while Tianqi Lithium Corporation rose 3.55% to HK$41.44. On the news front, XinDa Futures pointed out that the Jiaocheng Xiangxi pit has been delayed in resuming production, leading to market expectations for the timing to be significantly delayed. Downstream production in March may reach a historical high, with a trend towards reducing inventories weekly and strong demand from the power side, possibly due to government stimulus at the beginning of the year, while energy storage remains strong. In addition, the industry continues to see production increases, inventory reductions, and the migration of inventories from upstream to downstream, reflecting strong demand and a healthier inventory structure compared to the same period last year. However, there are expectations for upstream production to resume in the distant months and pricing for the demand downturn in the off-season, leading to a pattern of near strength and far weakness.