Zhi Tong Cai Jing·2025-12-02 07:36Group 1 - Lithium stocks experienced a decline, with Tianqi Lithium (002466) down 3.49% at HKD 47.02 and Ganfeng Lithium (002460) down 2.43% at HKD 47.44 [1] - Since October, the price of lithium carbonate has been on the rise, surpassing HKD 80,000 and HKD 90,000, reaching a peak of HKD 102,500 per ton on November 19, marking a new high since June 2024 [1] - The total monthly production of lithium carbonate continued to increase in November, with a month-on-month growth of 3% and a year-on-year increase of 49%, indicating ongoing domestic supply expansion [1] Group 2 - Guoyuan Futures released a report indicating that while market expectations for December demand remain positive, the actual demand performance is falling short of expectations due to inventory levels and production schedules in the downstream sector [1] - The report suggests that with a significant amount of lithium salt inventory still held by downstream players, combined with high lithium prices and year-end inventory reduction needs, the support for lithium prices from the demand side may weaken, leading to a potential short-term downward trend in lithium prices [1]