Lithium stocks extended losses this morning amid ongoing supply-side uncertainties. As of press time, Ganfeng Lithium (01772) fell 3.79% to HK$45.7, while Tianqi Lithium (09696) dropped 2.03% to HK$43.5.

The decline follows a sharp pullback in lithium carbonate futures, with the benchmark contract sliding over 4% on November 4. Prices remained under pressure this morning, trading at 78,520 yuan per ton at the time of writing.

Market speculation persists regarding the potential resumption of production at CATL’s Xianxiawo mine, though final approval remains unconfirmed. Hongyuan Futures noted that while both supply and demand remain robust, recurring news about Jiangxi lithium mine restarts and sustained high production levels have intensified downstream caution amid elevated prices.

With the power battery demand inflection point approaching, further price corrections may occur if weakening demand materializes, suggesting additional downside for lithium prices.