The lithium battery concept is strengthening, Haike New Source hits the 20% daily limit, and companies like Huasheng Lithium Battery surge significantly.

Lithium concept stocks were active during the trading session on the 26th. As of the latest report, Haike Xinyuan hit the 20% daily limit-up, Huasheng Lithium, Zhongyi Technology, and others rose over 10%, while Rongjie Shares, Shida Shenghua, and Tianshi Shares also hit the daily limit-up.

On the news front, Zimbabwe’s lithium export ban has continued for nearly a month with no indication of easing, and the impact may exceed previous market expectations. Market analysts predicted at the end of February that the impact of Zimbabwe’s export policy adjustments would last about a month.

Media reports indicate that on March 24, Chinese companies involved in lithium resource development in Zimbabwe reported that their mines and lithium salt enterprises are still operating normally, but lithium concentrate exports remain suspended. The local export ban has not been accompanied by detailed regulations. The timing of export resumption is still under active discussion. Currently, the company still holds inventory.

Institutions state that Zimbabwe is one of China’s important sources of lithium ore imports. The current export ban aligns with Zimbabwe’s value retention strategy, but a sudden policy shift to ban all lithium ore exports while only allowing lithium sulfate exports does not match the current local production situation. The impact of this export ban is expected to be short-term. Once resource depletion and illegal smuggling issues are addressed, and companies with mining rights and beneficiation plants complete new approval processes, normal lithium ore exports will resume. Under strong demand and low inventory conditions, supply disruptions will be amplified. Currently, lithium carbonate prices are facing some downward pressure near previous highs. If the ban extends beyond expectations or other supply disruptions occur, prices could break through 200,000 yuan per ton.

CITIC Construction Investment Securities recently noted, according to SMM, that domestic lithium carbonate inventories are decreasing, with the pace slightly slowing. This week, inventories decreased by 414 tons to less than 99,000 tons, with smelters’ inventories dropping by 1,184 tons to 16,000 tons, the lowest in nearly three years. Downstream inventories fell by 1,890 tons to 46,000 tons, with estimated available inventory days less than 10. Other segment inventories decreased by 1,120 tons to 37,000 tons, also at relatively low levels. Lithium carbonate production increased by 768 tons weekly, but considering the Zimbabwe export halt and port ore stock levels, future supply elasticity is limited. Demand continues to recover, with strong needs in energy storage and heavy trucks, and the electric vehicle battery market entering peak season. Coupled with the Middle East conflict and rising energy pressures overseas, especially in Europe where household storage demand is increasing, the core contradiction remains low inventory. Lithium prices are likely to rise easily and fall slowly.