Lithium company shares saw expanded gains in the afternoon session. At the time of writing, Tianqi Lithium Corporation (09696) rose 5.98% to HK$49.3, while Ganfeng Lithium Group Co.,Ltd. (01772) increased 6.22% to HK$77.65. The movement follows news that Zimbabwe's government has maintained its ban on lithium concentrate exports for over a month since March. According to a research report from Founder Securities, the Zimbabwean government has proposed 11 conditions for lifting the ban to promote extension of the lithium industry chain. Key requirements include establishing lithium sulfate plants by 2027, imposing a 10% export tax, and implementing export quota management. Currently, only a few companies possess relevant production capacity, making compliance with the deadline challenging and creating room for negotiation regarding export resumption. China Post Securities previously indicated that on the demand side, overseas new energy vehicle sales are expected to improve post-holiday, coupled with sustained strength in energy storage orders. Lithium prices are projected to maintain wide fluctuations with limited downside due to fundamental support, while upside potential depends on the quality of energy storage and new energy vehicle orders.
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