According to the Zhitong Finance and Economics App, Ganfeng Lithium (01772) fell nearly 4% in intraday trading to reach a new low of HKD 18. As of the time of publication, it has fallen 3.2% to HKD 18.14, with a turnover of HKD 76.6948 million.

Recently, lithium carbonate futures and spot prices have once again fallen below the 100,000 yuan mark. On June 18th, Shanghai Ganglian E-commerce's data showed that domestic electric carbon prices fell again, with an average price of RMB 97,500 per tonne. According to data from Guangzhou Futures Exchange, six lithium carbonate futures contracts all closed below RMB 100,000 per tonne. Among them, the 2407 and 2408 contracts closed at RMB 92,800 and RMB 95,850 per tonne, respectively.

Huafu Securities pointed out that in Q1, due to the low lithium prices and weakened shareholder demand for purchases, the supply of overseas lithium mines weakened. However, the change in the underwriting model and the lithium market may promote an increase in Q2 overseas lithium supply. In the short term, due to the weaker downstream production and increased proportion of customer-specific long-term orders, lithium prices may continue to weaken. The surplus situation in 2024 is unchanged and still needs to be rebalanced through oversold lithium prices. However, the current price is already close to the central price.