Lithium mining stocks advanced during the trading session. At the time of writing, Ganfeng Lithium Group (01772) rose 4.19% to HK$78.3, while Tianqi Lithium Corporation (09696) increased 3.42% to HK$58.95.
Market sentiment was buoyed by a research report from China Securities Co., Ltd., which highlighted persistent supply constraints. The report noted that exports from Zimbabwe have not yet substantially resumed. Assuming shipments restart by late April, the extended transit time to deliver material to lithium refineries in China is expected to continue affecting raw material supply in May and June. Concurrently, a shortage of fuel oil in Australia is impacting the operational capacity of mining companies, suggesting that supply disruptions will remain significant in the second quarter, making it difficult to ease the tightness in raw materials.
On the demand side, downstream production schedules are projected to improve month-over-month, supported by robust growth in exports for energy storage systems and new energy vehicles. Against the backdrop of low inventories, constrained supply, and strong consumption, lithium prices are anticipated to maintain their upward trajectory.
Data shows that as of April 23rd, four companies within the lithium mining sector have released preliminary first-quarter 2026 results, two have published their full Q1 reports, and one has issued an earnings snapshot. All seven companies reported a substantial year-on-year improvement in first-quarter performance, indicating a significant recovery trend for the industry. Among them, Tianqi Lithium Corporation expects its first-quarter net profit attributable to shareholders to be between 1.7 billion and 2.0 billion yuan, representing a massive increase of 1,530% to 1,818% compared to the same period last year. Ganfeng Lithium Group anticipates achieving a net profit attributable to shareholders of 1.6 billion to 2.1 billion yuan for the quarter.
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