Ganfeng Lithium (01772) rose more than 6%, up 6.51% to HK $27 as of press release, with a turnover of HK $106 million.
On the news side, GF Futures pointed out that the monthly output of lithium carbonate in May is expected to be 60688 tons, an increase of 7795 tons over the previous month, up 82% year on year; As of May 16, the weekly output of SMM lithium carbonate was 14224 tons, an increase of 528 tons month on month, and the weekly output is still increasing. It is expected that the supply side will continue to improve, the operating rate will gradually rise, the supply will increase in the short term, and the arrival of imported raw materials to the port is expected to increase in the near future. In addition, the monthly demand for lithium carbonate in May is expected to be 70838 tons, 3901 tons more than the previous month, 5.83% more than the previous month.
Changjiang Securities said that looking forward to 2024, the company will usher in a resource harvest period, the self supply rate is expected to continue to increase, and the comprehensive cost is expected to improve. With the improvement of MtMarion cost, the ramp up of low-cost CO salt lake, and the commissioning of the Goulamina project in Mali, the company's own resource output is expected to further increase, the level of self supply rate continues to increase, and the cost of self supply of resources is expected to decline year-on-year. At the same time, with the stabilization of lithium price and the shift of concentrate pricing mechanism to M+1, the company's profitability is expected to improve to a certain extent month on month.
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