Lithium stocks declined in early trading. As of press time, GANFENGLITHIUM (01772) fell 4.2% to HK$31.96, while TIANQI LITHIUM (09696) dropped 4.01% to HK$42.12.

On the news front, Jiangxi Special Electric Motor Co.,Ltd. announced on July 22 that all lithium salt production lines at Yichun Yinli were expected to undergo equipment maintenance starting July 25, with an estimated maintenance period of approximately 26 days. The company stated the purpose was to further improve production line equipment stability and operational efficiency, reduce production costs, and enhance comprehensive benefits. According to the latest announcement on August 19, the company received notification from Yichun Yinli that it would officially resume work and production in the near future.

Tonghui Futures released a research report stating that the lithium carbonate futures market may enter a wide-range oscillation with upward bias over the next 1-2 weeks. Although supply disruption events have boosted market bullish sentiment, the actual production impact from current mine shutdowns has not yet materialized, and lithium salt plants maintain high operating rates, leaving the spot market still facing inventory pressure.

On the demand side, new energy vehicle sales growth has slowed, combined with the "anti-involution" initiative in the battery industry chain that suppresses mid-stream expansion impulses. Peak season expectations face correction risks, requiring vigilance regarding the marginal changes in policy implementation intensity and the progress of Jiangxi mine rectification.