Movement Alert|Ganfeng Lithium Falls 3.84% at Open, Lithium Sector Under Pressure as GFEX Tightens Carbonate Futures Position Limits

Market Focus06-22 09:23

On June 22, Ganfeng Lithium fell 3.84% at open, trading at 53.85 HKD/share, with turnover of 13.52 million HKD.

On the news front, the Guangzhou Futures Exchange recently tightened lithium carbonate futures general-month position limits to curb excessive speculation and reduce market distortion from concentrated large-capital holdings. Meanwhile, GFEX warehouse receipt volumes remain at historical highs, creating significant potential selling pressure. The lithium carbonate front-month contract previously plunged 6.5% in a single session to 160,640 yuan/ton, dragging lithium mining stocks lower across the board, with Tianqi Lithium declining 3.7% in the same sector.

Additionally, the positive impact from Ganfeng's subsidiary selling approximately 35.09 million PLS Group shares for around AUD 222 million — generating estimated pre-tax gains of approximately 981 million yuan — has been fully priced in, with short-term profit-taking pressure continuing to weigh on the stock.

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