Understanding the Market | Lithium Mining Stocks Surge in the Afternoon, Tianqi Lithium Soared Nearly 5% at One Point, L…

Lithium mining stocks surged in the afternoon. As of the time of publication, Tianqi Lithium rose by 3.16%, trading at HKD 43.68; Ganfeng Lithium increased by 2.36%, trading at HKD 56.4. In terms of news, on the afternoon of June 24, the main contract for lithium carbonate surged over 3%, reaching a peak of 161,900 yuan/ton. Guotai Junan Futures believes that after obtaining new construction land pre-review and site selection proposals for the Xiwokeng mine, market speculation about its resumption of production has increased, putting pressure on futures prices. In reality, supply expansion is limited while demand remains strong, forming support at the lower end. Xinda Futures pointed out that in terms of demand, downstream production in June continued to hit historical highs, and against the backdrop of inventory reduction in May, further strengthening of demand in June is expected to accelerate inventory reduction

According to Zhitong Finance APP, lithium mining stocks surged in the afternoon. As of the time of publication, Tianqi Lithium (09696) rose by 3.16%, trading at HKD 43.68; Ganfeng Lithium (01772) increased by 2.36%, trading at HKD 56.4.

In terms of news, on June 24th in the afternoon, the main contract for lithium carbonate surged over 3%, reaching a peak of 161,900 yuan/ton. Guomao Futures believes that after the preliminary review and site selection proposal for new construction land acquisition in the lower mine, market speculation on its production resumption expectations has increased, suppressing futures prices. In reality, supply expansion is limited while demand remains strong, forming support from below. Xinda Futures pointed out that in terms of demand, downstream production in June continues to set historical highs, and against the backdrop of inventory reduction in May, further strengthening of demand in June is expected to accelerate inventory reduction