On June 8, Tianqi Lithium fell 3.24% in regular trading, trading at 42.48 HKD/share, with trading volume of HKD 164 million. The decline was driven by continued weakness in lithium carbonate futures, which have plunged over 20% in the past half month, compounded by warehouse receipts at the Guangzhou Futures Exchange hitting an all-time high, intensifying bearish market sentiment.
On the supply side, Australia's MinRes announced the restart of the Bald Hill lithium mine with annual capacity of approximately 17,500 tonnes of lithium carbonate equivalent, with first spodumene concentrate output expected in July, further aggravating oversupply concerns. JPMorgan maintained a Neutral rating on Tianqi Lithium with a target price of 52 HKD, noting that recent positive catalysts such as Jiangxi lithium mica mine shutdowns and Zimbabwe export controls have largely been priced in, with risks skewed toward adverse developments including overseas mine restarts and potentially higher-than-expected hidden lithium inventories.
Within the Specialty Chemicals sector, selling pressure was broad-based. Ganfeng Lithium fell 4.84%, Dongyue Group dropped 6.0%, Huabao International declined 5.18%, Global New Material fell 3.02%, and Sanvo Chemicals lost 3.16%.
(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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