Lithium battery stocks gained in afternoon trading. As of press time, CALB (03931) rose 5.73% to HK$32.5, TIANQI LITHIUM (09696) climbed 5.63% to HK$46.9, ZENERGY (03677) increased 3.91% to HK$9.3, and GANFENGLITHIUM (01772) advanced 3.03% to HK$48.94.

Market sources indicate that on November 3, the price of lithium hexafluorophosphate on the Shanghai Nonferrous Metals Market reached a high of RMB 117,000 per ton, nearly doubling since early October. Companies such as Shida Shenghua and Capchem confirmed strong order volumes when contacted by investors. One firm noted robust demand, stating, "Orders continue to grow." However, management at Do-Fluoride cautioned that while demand for lithium hexafluorophosphate remains stable, price fluctuations will likely moderate, avoiding the extreme surges seen in previous cycles, with manufacturers adopting a cautious approach to capacity expansion.

Kaiyuan Securities highlighted that lithium hexafluorophosphate prices have been on a rapid upward trajectory since mid-September. In the short term, tight supply-demand conditions may persist until 2026, leaving room for further price increases. The firm suggested that the sharp price rebound could signal easing supply-demand imbalances for certain lithium battery materials, potentially heralding a new pricing cycle.