21世纪经济报道·2025-11-17 07:37Market Overview - The A-share market experienced weak fluctuations on November 17, with the Shanghai Composite Index down 0.46%, the Shenzhen Component Index down 0.11%, and the ChiNext Index down 0.2%. The total market turnover was 1.93 trillion yuan, with 100 stocks hitting the daily limit [1]. Sector Performance - Energy metals, military industry, and AI applications sectors saw significant gains, while precious metals and pharmaceuticals sectors faced declines. The defense and military sector surged, with stocks like Jianglong Shipbuilding hitting the daily limit, and companies like Morningstar Aviation and Tianhe Defense rising over 10% [2]. Lithium Battery Sector - The lithium battery sector experienced a strong rally, with stocks such as Shengxin Lithium Energy and Rongjie Co. hitting the daily limit. Tianqi Lithium rose over 9%, Yongxing Materials over 8%, and Ganfeng Lithium over 7%, indicating a broad upward trend in the sector [4]. Lithium Carbonate Futures - On November 17, lithium carbonate futures surged over 7%, with the main contract breaking the 94,000 yuan/ton mark, reaching a high of 94,760 yuan/ton, marking a new high in over a year. Since June, the main contract has seen a price increase of over 56% [5]. Supply and Demand Dynamics - According to industry analysis, the price fluctuations of lithium carbonate exhibit clear phase characteristics, driven initially by "anti-involution" sentiments, followed by supply contractions due to some mines halting production, and recently supported by unexpectedly strong downstream demand [6]. Future Demand Projections - At the 10th International Summit on Power Battery Applications (CBIS2025), Ganfeng Lithium's chairman predicted a 30% increase in lithium carbonate demand by 2026, reaching 1.9 million tons, while supply capacity is expected to grow by 250,000 tons. If demand growth exceeds 30%, prices could potentially break 150,000 yuan/ton or even 200,000 yuan/ton in the short term [7]. Precious Metals Market - International gold prices saw a significant decline, with spot gold and COMEX gold dropping to around 4,050 USD/ounce. Despite this, domestic gold jewelry prices remained stable, with brands like Chow Tai Fook and Chow Sang Sang maintaining prices above 1,300 yuan/gram as of November 17 [7].