Ganfeng Lithium's stock price plummeted 5.09% during intraday trading on Thursday, extending recent losses for the lithium producer.
The sharp decline was driven by multiple bearish factors affecting the lithium market. Australia's MinRes announced the restart of its Bald Hill lithium mine, adding incremental supply pressure with operations set to begin in June. Additionally, institutional investor Baillie Gifford & Co significantly reduced its position in Ganfeng Lithium by approximately 2.6 million shares, lowering its stake to 4.53%.
Further pressure came from SQM raising its full-year shipment guidance by 30,000 tons, implying sustained monthly imports that exceed market expectations. With lithium carbonate spot prices remaining near RMB 200,000 per ton, downstream procurement willingness has been suppressed, intensifying market divergence between bulls and bears.
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