The most-traded GFEX (Guangzhou Futures Exchange) lithium carbonate futures contract rallied around the middle of the week ending May 29 after falling for two weeks in a row, with the contract's settlement price recording a mild retreat of 0.62% as of Friday against May 22, data showed. On May 28, Zimbabwe classified lithium as a "critical mineral" and signaled plans to mandate minimum state ownership in mining assets. Although firms said it was a "minister's personal view" with no formal policy or immediate impact, the market viewed the news as a major supply disruption, triggering a sharp afternoon price rebound on the same day of the news.