Core Viewpoint - Lithium stocks have collectively declined, with significant drops observed in major companies such as Ganfeng Lithium, Tianqi Lithium, and CATL, indicating a bearish sentiment in the lithium market due to supply-demand dynamics [1] Industry Summary - Recent market conditions show intense competition between lithium supply and demand, with a notable increase in lithium carbonate production, surpassing 20,000 tons per week, reaching historical highs [1] - The production of spodumene lithium has approached 13,000 tons, compensating for previous production losses from Qinghai salt lake and Jiangxia mine shutdowns [1] - Compared to 2024, the current weekly production has increased by 7,796 tons, reflecting a 61.29% rise from last year's average [1] Company Summary - Ganfeng Lithium (01772) has seen a decline of 7.7%, trading at HKD 47.12, while Tianqi Lithium (09696) dropped 6.83% to HKD 45.28, and CATL (03750) fell 6.24% to HKD 548.5, indicating a negative market reaction [1] - The structural change in inventory, with upstream destocking and downstream proactive restocking, suggests a positive growth in actual demand [1] - The upcoming resumption of production at Jiangxia mine is expected to increase supply pressure, with supply growth anticipated to outpace demand growth in the fourth quarter, leading to continued downward pressure on lithium carbonate prices [1]