Lithium mining stocks surged in the afternoon trading session. As of press time, Tianqi Lithium (09696) rose 4.11% to HK$47.64, while Ganfeng Lithium (01772) climbed 3.21% to HK$49.56.
The rally follows remarks by Tianqi Lithium’s Chairman Jiang Anqi at the 2025 Second China International Lithium Industry Conference. Jiang highlighted that the growing demand for renewable energy integration, rapid electrification of commercial heavy-duty vehicles, and rising lithium consumption in energy storage and power batteries are expected to drive global lithium demand to 2 million metric tons of lithium carbonate equivalent (LCE) by 2026, achieving a balanced supply-demand dynamic.
With improving supply-demand conditions in the lithium sector, industry players are poised to break free from homogenized competition and embrace greater growth opportunities. Notably, Ganfeng Lithium’s Chairman Li Liangbin previously projected a 30% increase in lithium carbonate demand by 2026, reaching 1.9 million metric tons. Meanwhile, supply capacity is estimated to expand by around 250,000 metric tons, maintaining equilibrium.
Li suggested that if demand growth exceeds 30%—potentially hitting 40%—supply may struggle to keep pace in the short term, potentially pushing lithium carbonate prices above RMB 150,000 per ton or even RMB 200,000 per ton.
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