Rumors say Zimbabwe's lithium mine embargo has been upgraded, Rongjie Co., Ltd. hits the limit-up for three consecutive days

(Source: Caixin)

Component stocks Rongjie Co., Ltd. hit the daily limit for three consecutive days, Shengxin Lithium Energy and Tibet Mining rose over 5%, and Yongxing Materials, Ganfeng Lithium, Tianqi Lithium, and Yingshan Lithium followed the upward trend.

On March 26, driven by the lithium mining sector, the energy metals sector fluctuated higher. As of the time of writing, the constituent stock Rongjie Co., Ltd. (002192.SZ) hit the daily limit for three days, Shengxin Lithium Energy (002240.SZ) and Tibet Mining (000762.SZ) rose over 5%, and Yongxing Materials (002756.SZ), Ganfeng Lithium (002460.SZ), Tianqi Lithium (002466.SZ), and Yingshan Lithium (603399.SH) also gained.

In terms of news, on the evening of March 23, reports emerged that Zimbabwe’s ban on the export of lithium concentrate had escalated. Although Zimbabwe’s government previously planned to fully ban concentrate exports by 2027, it suddenly announced an indefinite suspension of all raw ore and lithium concentrate exports at the end of February, and the situation has continued to escalate. Some analysts suggest that the impact of the export ban may exceed market expectations.

CICC Securities pointed out that in the new energy vehicle sector, we expect global new energy vehicle sales to maintain rapid growth by 2026, driving demand for batteries and materials. Regarding power batteries, the peak season for lithium batteries is approaching, which is expected to promote order signing and profit recovery for companies. On new technologies, solid-state batteries are entering a critical phase of engineering validation, with a focus on the progress of related materials and equipment companies.

Industrial Securities noted that downstream demand for battery cells remains at a relatively high level. Meanwhile, supply-side disruptions continue at Jiangxi lithium mines due to license renewal issues, and supply concerns persist. Under the current conditions of strong spot demand, lithium mine production remaining below expectations, and the disruption caused by Zimbabwe’s export ban, short-term lithium prices are likely to remain volatile with a strong bias. In the medium term, benefiting from the unexpected growth in domestic and international energy storage demand and a slowdown in resource supply growth, the overall lithium carbonate supply and demand are expected to remain tight, and the price center of lithium carbonate may fluctuate upward.