Founder Securities: Prices of non-ferrous industry and industrial metals are weakening, and gold prices are reaching new highs.
Domestic demand for industrial metals has entered the off-season, coupled with increasing expectations of a U.S. economic downturn. Industrial metal prices may remain weak, and attention can be paid to downstream demand changes in the off-season. In addition, the expectation of interest rate cuts is gradually fermenting, coupled with the weakening of the U.S. credit system, and the short-term gold price may maintain a high-level shock trend.
HK stocks anomaly | Copper stocks fall again as copper prices decline, causing market divergence and a continuation of weak trends.
Copper stocks have fallen again, as of press time, Chinagoldintl (02099) has fallen by 7.61% to HKD 42.50, Chinfmining (01258) has fallen by 5.01% to HKD 5.12, MMG (01208) has fallen by 4.96% to HKD 2.49, and Jiangxi Copper (00358) has fallen by 3.88% to HKD 13.38.
Jiangxi Copper Enters Shareholder Rights Agreement With First Quantum Minerals
Express News | Jiangxi Copper Says Co Enters Into Shareholder Rights Agreement With First Quantum Minerals
Express News | Jiangxi Copper Says Agreement Include Co's Right to Nominate Director to First Quantum, Standstill Position, Disposition of Shares, Shareholder Support
Jiangxi Copper Forms Strategic Alliance With FQM
Jiangxi Copper (00358) signed a shareholder rights agreement with First Quantum.
Jiangxi Copper (00358) issued an announcement on July 23, 2024 (East Coast Standard Time), stating that the company will...
The Total Return for Jiangxi Copper (HKG:358) Investors Has Risen Faster Than Earnings Growth Over the Last Five Years
Jiangxi Copper Schedules Board Meeting for Results
Jiangxi Copper (00358.HK) plans to hold a board of directors meeting on August 28 to approve its interim performance.
Jiangxi Copper (00358.HK) announced on July 22nd that the board of directors will hold a board meeting on Wednesday, August 28, 2024 to consider and approve the announcement of the company's and its subsidiaries' interim results for the six-month period ending June 30, 2024, as well as to handle any other matters (if any).
JIANGXI COPPER: ANNOUNCEMENT - DATE OF BOARD MEETING
Hong Kong stocks saw unusual volatility | Copper stocks continued to decline, with the New York copper futures main contract hitting a new low. Goldman Sachs warned that oversupply will depress copper prices in the short term.
Copper shares continued to decline. As of press time, Chinfmining (01258) fell 4.97% to HKD 5.16; MMG (01208) fell 3.26% to HKD 2.67; Jiangxi Copper (00358) fell 3.05% to HKD 13.98.
"Continued Deterioration"! Goldman Sachs warns that overcapacity will depress copper prices in the short term
Goldman Sachs analysts pointed out that China's exports of cathode copper hit a new high in June, but inventories increased and there was a headwind on the demand side. At the same time, the increase in supply in Africa, the supply growth of Congo and Zambia has been underestimated.
Hong Kong stock concept tracking | Metal sector is the big winner in the first half of the year! Institutions: The long-term trend of precious metals and non-ferrous commodities is still bullish. (Attached concept stock)
Recently, the industrial metals sector has successively disclosed its half-year performance forecasts.
Jiangxi Copper (600362.SH) A-share equity distribution for the year 2023: 6 yuan per 10 shares. Record date is July 23.
Jiangxi Copper (600362.SH) has released the annual equity distribution implementation announcement for 2023, implementing equity distribution shares...
HK stocks fluctuate | Copper stocks continue to decline, with oversupply and weak demand weighing on copper prices.
Copper stocks continue to decline. As of press time, MMG (01208) fell 7.19% to HKD 2.84; Jiangxi Copper (00358) fell 6.39% to HKD 14.64; Chinfmining (01258) fell 5.95% to HKD 5.69.
Copper stocks are under pressure. Chinfmining (01258) fell 4.07%. Institutions point to weak demand in the copper rod market.
Copper stocks were under pressure, with Chinfmining (01258) falling 4.07%, Chiho Env (00976) falling 3.92%, Jiangxi Copper (00358) falling 2.73%, and mmg (01208) falling 1.3%. Galaxy Securities said that last week, SHFE copper prices fell by 1.52% to 78,950 yuan/ton, SHFE copper stocks fell by 1.72% to 0.3161 million tons, domestic copper concentrate prices fell by 1.50% to 65,688 yuan/ton, and imported copper concentrate TC was $1.0/ton. On the supply side, shipping is generally normal, and smelters are under maintenance.
Special guest Deng Shengxing: the market expects the US to cut interest rates in the short term, and futures prices for crude oil products rise.
On Thursday (11th), the Hang Seng Index closed at 17832, up 360 points or 2.1%. The total daily turnover of the market was 100.38 billion yuan. The national index rose 120 points or 1.9% to 6371; the science and technology index rose 96 points or 2.7% to 3696. According to foreign reports, Apple plans to increase the shipment target of the new iPhone by more than 10%, and the apple supplier stocks listed in Hong Kong have soared. Shun Yu (02382) rose 4.6%; Raysonic (02018) surged 6%; The Dow Jones closed at 39753, up 32 points or 0.08%.
HK stocks surge | Non-ferrous stocks rise as Powell's dovish talk reinforces expectations of interest rate cuts. Metals are expected to usher in a new round of business cycles.
According to the Intelligence Investment App, non-ferrous stocks rose today. As of press time, Ganfeng Lithium (01772) rose 8.12%, reporting HKD 17.04; Jiangxi Copper (00358) rose 4.88%, reporting HKD 16.34; Zhaojin Mining (01818) rose 4.23%, reporting HKD 15.28; CMOC Group Limited (03993) rose 3.46%, reporting HKD 7.77; Chinahongqiao (01378) rose 1.4%, reporting HKD 11.6. In terms of news, Fed Chairman Powell once again “released doves”. During his testimony in Congress, Powell mentioned that the Fed does not need to wait for inflation to fall to 2%.
[Special VIP] Guo Jiayao: The peripheral trend is improving, which helps stabilize the performance of the Hong Kong stock market.
Golden Finance News | US stocks improved significantly on Wednesday. Fed Chairman Powell said that interest rates can be lowered even if inflation does not fall to the target level, which stimulated all three major indexes to record gains at the close, with the S&P 500 index and the Nasdaq both hitting new closing highs. The US dollar weakened, and the yield on the 10-year US Treasury bond fell to 4.28 basis points. The price of gold performed well, and oil prices also rose. Hong Kong's pre-collection securities generally performed well, and it is expected that the market will follow the high opening in the early stage. The mainland stock market fell yesterday, with inflation data lower than expected. The Shanghai Composite Index opened lower and fluctuated downwards, closing down 0.7%. The turnover of the Shanghai and Shenzhen stock markets shrank again. Hong Kong stocks performed slightly weakly, early
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