Changes in Hong Kong stocks | Lithium carbonate fell 24% in September Ganfeng Lithium (01772) and Tianqi Lithium (09696) both fell by more than 3% in the intraday

The Zhitong Finance App learned that lithium stocks continued their recent decline. As of press release, Ganfeng Lithium (01772) fell 3.37% to HK$29.8; Tianqi Lithium (09696) fell 2.79% to HK$27.88.

According to the news, the lithium carbonate futures market continued to weaken in the week before the National Day. On September 28, the main lithium carbonate futures contract fell below 120,000 yuan/ton, a new low during the year, down about 40% from the May high. On September 30, the price of Shanghai Steel Union battery-grade lithium carbonate was 120,000 yuan/ton, while the price on August 31 was 157,000 yuan/ton. As a result, lithium carbonate fell 24% in September, the biggest monthly decline since the second half of 2026.

Tonghui Futures believes that demand expectations are still weak while supply is easing, and lithium prices lack upward momentum in the short term. The increase in supply-side overseas mining continues to arrive in Hong Kong, mineral prices weaken, and domestic smelting capacity utilization remains stable. Although the Brazilian Sigma shutdown incident and news of large and medium mining reserves have disrupted market sentiment, short-term actual supply contraction is limited, and expectations of long-term supply easing have deepened; demand-side cathode material prices continued to fall, terminal retail sales declined year on year, and downstream procurement tends to wait and see after pre-holiday preparations are completed, making it difficult to form effective support.