Ganfeng Lithium (01772.HK) saw its stock price surge by 7.02% in intraday trading, as part of a broader rally in Hong Kong-listed materials stocks. The significant uptick in Ganfeng Lithium's shares comes as the materials sector experiences a substantial boost, driven by soaring copper prices.

The rally in the materials sector was led by CMOC Group, which jumped 14% to its highest level since its 2007 debut. Other major players in the sector, including Zijin Mining, Jiangxi Copper, MMG, and China Nonferrous Mining, also saw significant gains ranging from 4.6% to 9.3%. The Hong Kong materials index surged 4.2% to 14,084.97, reaching its highest level since May 2008, underscoring the sector-wide impact of the copper price surge.

While Ganfeng Lithium's primary focus is on lithium production rather than copper, the company's stock appears to be benefiting from the overall positive sentiment in the materials sector. As base metal prices rise across the board, investors seem to be showing increased interest in a wide range of materials stocks, including those in the lithium space. This trend could potentially signal growing optimism about demand for various metals and materials, which may have positive implications for Ganfeng Lithium's business outlook.