The Zhitong Finance App learned that lithium stocks are under collective pressure. As of press release, Ganfeng Lithium (01772) fell 3.69% to HK$22.46; Tianqi Lithium (09696) fell 2.62% to HK$23.82.

According to the news, lithium carbonate futures continued to decline this afternoon. The main contract 2701 plummeted more than 8%, fell below the 90,000 yuan mark, and hit a new low in November 2025. It has fallen nearly 60% from the high of 209,800 yuan in May this year. Affected by the correction in lithium prices, profits of lithium mining companies generally cooled down. Ganfeng Lithium's net profit in the third quarter was 755 million yuan, down 68% from the previous quarter; Tianqi Lithium's net profit for the third quarter was 1,360 billion yuan, down 42% from the previous quarter.

Cinda Futures pointed out that the market recently passed the Jianxiawo EIA, and production can resume in early November; the weekly inventory released by Steel Union yesterday went into storage about 3,000 tons, a sharp decrease from month to month. If the two are combined, if production actually resumes as scheduled, then the weekly stock removal within November may be drastically reduced to 2,000 tons or less, so the previous narrative of the year-end sprint market has basically come to nothing.

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