HK Stock Market Move | The lithium carbonate market still lacks uplifting factors. Tianqi Lithium Corporation (09696) and Ganfeng Lithium Group (01772) both fell more than 3%.

Today, lithium stocks fell, as of press time, Tianqi Lithium Corporation (09696) fell by 3.88% to 21.05 Hong Kong dollars; Ganfeng Lithium Group (01772) fell by 3.29% to 18.24 Hong Kong dollars. On the news front, from April 7 to April 11, affected by the tariff turmoil, most commodities fell, and the focus of lithium carbonate futures clearly shifted downward, with the main contract falling below the key level of 70,000 yuan/ton for the first time in nearly half a year. Tonghui Futures pointed out that lithium ore prices have fallen significantly again, and the lithium carbonate market still lacks uplifting factors. Haizheng Futures also stated that large-scale production of lithium carbonate by integrated factories is high and stable, and the overall situation is expected to remain oversupplied throughout the year. It is reported that Ganfeng Lithium Group released its 2024 annual report at the end of March, with the company achieving operating income of 18.906 billion yuan, a year-on-year decrease of 42.66%; net profit attributable to parent company shareholders was -2.074 billion yuan, a loss from profit. This is the first time Ganfeng Lithium Group has experienced a loss since its listing in 2010. Regarding the reasons for the performance change, Ganfeng Lithium Group stated that in 2024, the global lithium salt industry underwent a deep adjustment, and due to changes in supply and demand patterns and fluctuations in the lithium product market, prices for lithium salt and lithium battery products have fallen.