According to the Zhongtong Financial APP, Ganfeng Lithium (01772) has fallen by more than 5%, with the low reaching HKD 17.08, the lowest since June 2020. As of the time of publication, it has fallen by 5% to HKD 17.1, with a turnover of HKD 83.6686 million.

On the news front, the price of lithium carbonate has fallen below 100,000 yuan again in less than half a year. Industry insiders say that the market price of lithium carbonate in the spot and futures markets is under pressure due to multiple factors such as capacity release, weakened demand, and trade barriers, and the trend is not prosperous in the peak season.

According to the research reports of Citic Securities, since the second quarter of this year, due to the increase in China's imports of lithium salts and lithium mines, domestic production of lithium salts has continued to increase, supply-side pressure has increased, and demand has shifted into the off-season, causing the lithium price to fall below 100,000 yuan/ton. We expect that the demand for lithium will turn warm in the third quarter, downstream manufacturers may replenish their inventories in the peak season, and the downward space of lithium price is expected to be limited.