Lithium stocks in mainland China and Hong Kong rose, with Citigroup raising their ratings for Ganfeng Lithium and Tianqi Lithium due to expectations of future battery demand.

Lithium stocks rose in both mainland China and Hong Kong. Citigroup has raised its ratings on the A shares and H shares of Ganfeng Lithium and Tianqi Lithium to buy, citing that with strong actual battery demand, the prices of lithium compounds and lithium spodumene are biased towards an upward trend. Tianqi Lithium's Hong Kong shares rose by 6% and A shares by 2.6%; Ganfeng Lithium's Hong Kong shares rose by 4.9% and A shares by 3.3%. Lithium carbonate futures on the Dalian Commodity Exchange rose by over 6% in early trading on Monday.