Changes in Hong Kong stocks | Lithium battery concept stocks collectively declined, lithium carbonate fell to a low point within the year, and the growth rate of lithium battery production in October slowed month-on-month

The Zhitong Finance App learned that lithium battery concept stocks fell collectively. As of press release, Longpan Technology (02465) fell 5.60% to HK$8.435; Ganfeng Lithium (01772) fell 4.25% to HK$29.76; Ningde Times (03750) fell 1.68% to HK$481.2; Tianqi Lithium (09696) fell 1.04% to HK$28.48.

According to the news, the main lithium carbonate futures contract closed down 5.69% on September 28, and the price hit a new year's low. Weakening prices on the lithium battery material side suppressed profit expectations in the industry chain; according to third party statistics, the overall domestic lithium battery market production rate fell to less than 4% month-on-month in October, a marked slowdown from September. Although the industry believes that it is mainly due to an adjustment in the production schedule rather than a weakening in terminal demand, short-term market sentiment is still suppressed.

Guohai Securities also said that the growth rate was high in September due to centralized delivery due to the implementation of the consumption tax and the peak of overseas large storage deliveries. We believe the growth rate of production schedule slowed month-on-month in October, but the upward direction of demand remains unchanged. Energy storage supplementation is expected to begin at the end of the year, and demand is expected to continue growing in November and December.