Copper stocks generally rose. As of press release, Minmetals Resources (01208) rose 4.21% to HK$3.96; China Nonferrous Mining (01258) rose 3.62% to HK$6.59; and Jiangxi Copper (00358) rose 1.77% to HK$16.1.
The Zhitong Finance App learned that copper stocks generally rose. As of press release, Minmetals Resources (01208) rose 4.21% to HK$3.96; China Nonferrous Mining (01258) rose 3.62% to HK$6.59; Jiangxi Copper (00358) rose 1.77% to HK$16.1; and Wanguo International Mining (03939) rose 1.59% to HK$8.97.
According to the news, according to the Commodity Market Analysis System, copper prices have risen sharply since the beginning of March this year. As of April 8, copper prices rose strongly, rising by more than 2,000 yuan in a single day to 75,478.33 yuan/ton, up 9.7% from early March and 8.99% from the beginning of the year, setting a new high of nearly two years. Guojin Securities said that expectations of a decrease in copper smelting supply will be further interpreted, boosting the rise in copper prices; in 2024, global copper supply growth will be limited, and supply disturbances from leading mining companies will increase. Goldman Sachs expects the price of copper to rise to 10,000 US dollars per ton by the end of 2024, and the price of copper is expected to rise 65% by 2025.