Changes in Hong Kong stocks | Strong rebound of lithium carbonate surpassed 93,000 Ganfeng Lithium (01772) rose more than 9% Tianqi Lithium (09696) rose more than 5%

The Zhitong Finance App learned that Hong Kong lithium ore stocks strengthened this morning. As of press release, Ganfeng Lithium (01772) rose 9.1% to HK$26.3; Tianqi Lithium (09696) rose 5.8% to HK$25.36.

According to news, on the morning of November 5, the main contract for lithium carbonate futures surged more than 5% to about 93,000 yuan/ton. This is a strong reversal from the new stage low set in yesterday's intraday session. The US election results are out, and the Democratic Party has gained a clear advantage in Congress. For the new energy sector, this means that policy expectations that have been suppressed in the past two years have been released at once, medium- to long-term demand expectations are rising, and lithium carbonate is expected to benefit.

Cinda Futures pointed out that the industry continues to experience increased production and inventory migration from upstream to downstream, reflecting strong demand. The current inventory structure is healthier than the same period last year. However, Yuanyue has expectations for the resumption of upstream production and pricing for the decline in demand during the off-season, which shows a pattern of strength and far weakness in the near future.