HK Stock Market Move | Zimbabwe has banned the export of lithium concentrate for over a month. Tianqi Lithium Corporation (09696) rose more than 8% in the afternoon while Ganfeng Lithium Group (01772) rose more than 6%.

The rise of lithium stocks expanded in the afternoon, as of the release, Tianqi Lithium Corporation (09696) rose by 5.98% to 49.3 Hong Kong dollars; Ganfeng Lithium Group (01772) rose by 6.22% to 77.65 Hong Kong dollars. On the news front, since March, the Zimbabwean government has banned the export of lithium concentrates for over a month. Founder released a research report stating that the Zimbabwean government has proposed 11 conditions to lift the ban in order to promote the extension of the lithium industry, with a focus on requiring companies to build lithium sulfate factories by 2027 and impose a 10% export tax and export quota management. Currently, only a few companies have relevant production capacity, and it is difficult to meet the standards on time, creating a game space for export recovery. China Postal Securities previously stated that overseas new energy vehicle sales are expected to rebound after the sales war, coupled with continued prosperity in energy storage orders, it is expected that lithium prices will continue to fluctuate widely in the future, with limited downside potential supported by fundamentals, and upward potential depends on the quality of energy storage and new energy vehicle orders.