The Zhitong Finance App learned that Wanguo International Mining (03939) rose by more than 9% and rose 9.01% at press time to HK$9.68, with a turnover of HK$12.8 million. It is worth noting that the company's stock price has been rising continuously for nearly a year, with a cumulative increase of over 400% since April of last year.
Citi said that during the copper bull market in the 2000s, copper prices increased more than fivefold in three years, driven by China's urbanization and industrialization. Now, corporate consumers should hedge their copper positions because “price explosions” are likely to occur again in the next three years. Bank of America metal strategists said that the copper supply crisis has arrived because “the lack of copper projects is becoming a growing problem facing copper.” Coupled with investment in green technology and a rebound in the global economy, prices should rise to $10,250 per tonne by the fourth quarter, 8% higher than their previous expectations.
Tianfeng Securities believes that from the supply side, the mining side is tightening, the increase in copper scrap is limited, and tight raw materials are limiting the production of electrolytic copper. From the demand side, traditional demand areas are resilient, and emerging demand areas continue to grow. The current global copper inventory level is at a historically low level against the background of an increase in tight supply and demand. It is expected that the copper price center will rise steadily in the medium to long term.