On June 29, Tianqi Lithium (09696.HK) rose 3.11% in regular trading, trading at HKD 39.6/share, with turnover of HKD 67.96 million. The rebound follows a period of heavy selling pressure that appears to have been largely exhausted.
The prior steep decline was driven by persistent weakness in lithium carbonate prices, with the futures main contract falling to approximately RMB 145,000/ton from a May peak of RMB 205,000/ton — a cumulative retreat of nearly RMB 60,000. On the supply side, CATL's Jiangxiawo lithium mine received land-use pre-approval on June 17, with the market expecting potential Q4 resumption adding approximately 6.57 million tons of lithium carbonate equivalent, which had weighed heavily on sector valuations.
After consecutive sharp drops, short-term selling pressure has been sufficiently released. Peer Ganfeng Lithium also gained 0.82% on the same day, with the broader lithium mining sector showing signs of stabilization.
(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.)
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