Movement Alert|Tianqi Lithium Falls 3.12% in Regular Trading, Lithium Carbonate Futures Extend Over 22% Retreat as Exchange Warehouse Receipts Hit Record High

Market Focus06-10 10:36

On June 10, Tianqi Lithium fell 3.12% in regular trading, trading at 43.38 HKD/share, with trading volume of 168 million HKD.

On the news front, lithium carbonate futures have retreated over 22% from their mid-May highs, while Guangzhou Futures Exchange lithium carbonate warehouse receipts climbed to a record 56,000 tons, continuing to weigh on market sentiment. Additionally, Australian miner MinRes announced the restart of its Bald Hill lithium mine with annual capacity of approximately 17,500 tons of lithium carbonate equivalent, further intensifying supply-side pressure.

J.P. Morgan maintains a Neutral rating on Tianqi Lithium with a target price of 52 HKD, noting that prior positive catalysts such as Jiangxi lithium mica mine shutdowns and Zimbabwe export controls have been largely priced in. The bank flagged risks tilting toward adverse developments including overseas mine restarts and hidden lithium inventories exceeding expectations. Peer Ganfeng Lithium declined 3.13% on the same day, with the lithium sector broadly under pressure.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment