Stock Track | Ganfeng Lithium Plummets 5.05% Intraday Amid CATL Sodium Battery Threat and Lithium Price Retreat

Stock Track06-02

Ganfeng Lithium's stock experienced a significant decline of 5.05% during Tuesday's intraday trading session.

The sharp drop came as CATL announced plans to mass-produce sodium-ion batteries this year, sparking market concerns about potential substitution of lithium demand in energy storage and low-speed electric vehicle applications. Concurrently, lithium carbonate futures have retreated below 180,000 yuan per ton after reaching near three-year highs in mid-May, with continuing price declines putting pressure on valuations across the lithium sector.

Additional investor concerns stem from Ganfeng Lithium's recent final investment decision with Mineral Resources on the Mt Marion lithium mine project, which involves approximately US$490 million in capital expenditure, raising worries about increased financial burden. The broader lithium mining sector faced similar pressure, with peer stock Tianqi Lithium also declining on the same day.

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