Lithium mining stocks advanced during the morning session. At the time of writing, Tianqi Lithium Corporation (09696) rose 4.28% to HK$48.28, while Ganfeng Lithium Group Co., Ltd. (01772) increased 3.46% to HK$68.7. The catalyst for the movement was the benchmark lithium carbonate futures contract on the Guangzhou Futures Exchange, which briefly broke through the 170,000 yuan per ton level during the day and was last up more than 5% at 169,400 yuan per ton.

Xinda Futures noted that yesterday, lithium carbonate futures opened significantly higher and continued to climb in the afternoon, closing with a gain of over 10% near 165,000 yuan per ton. Strong demand during the Spring Festival holiday, coupled with optimistic projections for March production schedules and news of受阻 production ramp-ups at a lithium mine in Nigeria, contributed to a higher premium upon the market's reopening after the holiday. Furthermore, afternoon reports that a Zimbabwean lithium miner's exports were suspended reignited bullish sentiment, leading to a strong start for the futures market.

Everbright Futures indicated that based on February production schedules, short-term inventory levels may continue to decline, potentially providing significant bullish support. It is important to note, however, that January shipping data from Chile showed a substantial month-on-month increase. While the volume is likely unsustainable, it may gradually exert noticeable supply pressure domestically. Additionally, domestic production in March is expected to resume gradually, at which point the focus will shift to whether demand can exceed expectations.