Changes in Hong Kong stocks | The recovery in lithium carbonate supply and weakening demand resonated with expectations, Ganfeng Lithium (01772) and Tianqi Lithium (09696) fell by more than 4%

The Zhitong Finance App learned that lithium stocks continued to decline. As of press release, Ganfeng Lithium (01772) fell 4.48% to HK$31.58; Tianqi Lithium (09696) fell 4.18% to HK$29.32.

According to the news, in early trading on September 24, the main lithium carbonate futures contract continued its decline. It fell more than 4% in the intraday period, falling below 125,000 yuan/ton, with a cumulative decline of about 20% since September. Fangzheng Mid-Term Futures believes that the current recovery in lithium carbonate supply resonates with expectations of weakening demand, market fluctuations are increasing, and it is appropriate to treat the trend of shocks and polarization. UBS's previous research report lowered the 2027 lithium price assumption from 200,000 yuan to 120,000 yuan per ton, and simultaneously lowered the profit forecast and target price of China's lithium industry stocks; however, the bank also believes that the market may be overly concerned about the potential risk of inventory removal of China's battery energy storage systems, while ignoring the risk that anti-corruption investigations in Jiangxi may lead to a decline in supply.