HK Stock Market Move | The main contract for lithium carbonate futures hit limit down, with Ganfeng Lithium Group (01772) falling more than 7% and Tianqi Lithium Corporation (09696) falling more than 5%.

Lithium mining stocks fell in the morning session, with Ganfeng Lithium Group (01772) down 7.54% to 61.35 Hong Kong dollars and Tianqi Lithium Corporation (09696) down 5.47% to 43.88 Hong Kong dollars. On the news front, early on March 3rd, the main contract for lithium carbonate futures hit the limit down, dropping by 13% to 150,860 yuan per ton. Huatai Futures believes that the recent rise in lithium carbonate prices is mainly due to the brewing of the lithium mine incident in Zimbabwe, coupled with accelerated downstream destocking and improved market sentiment. Although lithium carbonate prices are fluctuating at high levels, the impact of unexpected events on supply and demand still needs to be observed. There is a certain uncertainty in the realization of demand for energy storage projects in the future.