The non-ferrous sector performed strongly today. As of press release, Ganfeng Lithium (01772) rose 6.12% to HK$28.6; Zijin Mining (02899) rose 4.69% to HK$12.06; Luoyang Molybdenum (03993) rose 3.52% to HK$4.41; and China Aluminum (02600) rose 2.99% to HK$4.14.
The Zhitong Finance App learned that the non-ferrous sector performed strongly today. As of press release, Ganfeng Lithium (01772) rose 6.12% to HK$28.6; Zijin Mining (02899) rose 4.69% to HK$12.06; Luoyang Molybdenum (03993) rose 3.52% to HK$4.41; and China Aluminum (02600) rose 2.99% to HK$4.14.
According to the news, according to data released by the US Department of Labor, the US unseasonally adjusted CPI in October rose 3.2% year on year, a new low since July this year, and is expected to rise 3.3%; after the seasonal adjustment, the CPI remained flat month-on-month, a new low since July last year. Galaxy Securities said that at present, the direction in which the Fed will move from the end of this round of interest rate hikes to a new cycle of interest rate cuts is determined.
CICC recently stated that on the demand side, the policy inflection point for steady domestic growth has reached. Although the current improvement in economic data is still relatively moderate, starting from the fourth quarter of 2023, as the effects of the steady growth policy gradually become apparent, the domestic economy is expected to pick up significantly, and demand for stocks under low inventories is also expected to be activated, thus driving demand in the non-ferrous metals industry to an upward inflection point.