Reported 9 months ago
On June 26, 2024, Exxon Mobil, a US energy giant, stated that the world's demand for lithium far surpasses current production levels. Rumors of closing out some mainland lithium carbonate futures hedging positions caused a strengthening of bullish forces, leading to a collective surge in mainland lithium mining stocks and futures targets. The main 2407 contract of mainland lithium carbonate futures rose over 6% during trading, closing up 5.11% at RMB 92,600 per ton. Major mainland lithium industry player Tianqi Lithium led the surge in lithium mining stocks, with Tianqi Lithium's mainland and Hong Kong stocks both rising over 6%. Other lithium mining stocks also saw significant gains, with Rongjie Stock surging to the daily limit, and China Minmetals, Tibet Jiuzhi, and Ganfeng Lithium rising by 8.32%, 8.04%, and 7.59% respectively.
Source: YAHOO