HK Stock Market Move | The slowdown in inventory data has triggered pessimistic sentiment, with Ganfeng Lithium Group (01772) and Tianqi Lithium Corporation (09696) both experiencing declines of over 4%.

Lithium mining stocks fell in the afternoon. As of the time of writing, Ganfeng Lithium Group (01772) decreased by 4.4%, trading at HKD 36.48; Tianqi Lithium Corporation (09696) dropped by 4.53%, trading at HKD 34.56. In terms of news, in the afternoon, the main contract for lithium carbonate futures plummeted, once dropping over 8% to a low of 140,540 yuan/ton, a decline of more than 10% from the high point of 160,000 yuan at the end of last month. Recently, a weekly inventory data release by a nonferrous metals website indicated a significant narrowing of weekly de-inventorying, alongside a notable increase in weekly production, which somewhat triggered pessimistic sentiment in the market. Copper Crown Jinyuan Futures pointed out that from a fundamental perspective, on the supply side, lithium ores from Zimbabwe are gradually arriving at ports, with related production lines finishing maintenance and returning to full production. Some new lithium ore production lines are maintaining gradual ramp-up, and the expectation of relaxed supply is gradually being realized. On the demand side, the latest lithium battery demand has been slightly revised downward, and the logic for sodium battery substitution has strengthened. Inventory continues to decline, but the high volume of warehouse receipts puts pressure on the futures market. Short-term sentiment is gradually weakening, and it is expected that lithium carbonate will experience weak fluctuations.