Lithium stocks rose in the afternoon. As of press release, Tianqi Lithium (09696) rose 4.08% to HK$30.6; Ganfeng Lithium (01772) rose 3.56% to HK$23.25.
The Zhitong Finance App learned that lithium stocks rose in the afternoon. As of press release, Tianqi Lithium (09696) rose 4.08% to HK$30.6; Ganfeng Lithium (01772) rose 3.56% to HK$23.25.
According to the news, on April 26, 7 departments including the Ministry of Commerce and the Ministry of Finance jointly issued the “Implementation Rules on Automobile Trade-In Subsidies”. Huatai Securities said that according to estimates, the current stock of passenger cars that meet the policy requirements is about 18 million, and the subsidy policy is expected to speed up the “wave of renewal” and lead to an increase in demand.
Affected by this news, the main contract for lithium carbonate futures rose more than 5% in the afternoon and is now reported at 115,200 yuan/ton. Morco, founder of Real Lithium Research, believes that with the rapid growth in demand for lithium batteries, companies may need to make more reserves from November to December this year. Meanwhile, the corresponding upstream lithium carbonate raw materials will usher in a new round of procurement peak from August to September. At that time, the price of lithium carbonate is likely to rise.