The Zhitong Finance App learned that lithium stocks weakened in early trading. As of press release, Ganfeng Lithium (01772) fell 7.78% to HK$29.65; Tianqi Lithium (09696) fell 4.68% to HK$41.8.
According to the news, according to the Securities Times, lithium carbonate spot and futures prices have declined further in recent times, which has attracted market attention. According to the data, the price of industrial grade lithium carbonate was 164,000 yuan/ton on September 28, a cumulative decline of 9.64% over the past two weeks. Industry insiders have analyzed that the “Gold, Nine, and Silver Ten” expectations may be difficult to fulfill, and lithium prices are still under pressure.
In addition, Zhicun Lithium recently announced that it will overhaul some base equipment from September 29 to October 25. The company may cut lithium carbonate production by about 3,000 tons in October. People in the industry said that the current overhaul of Zhicun Lithium has also been interpreted by the industry as an act of price insurance to adjust the supply of lithium carbonate.