Movement Alert｜China Molybdenum Falls 3.05% in Regular Trading, Non-Ferrous Metals Sector Weakness Compounds Profit-Taking Pressure

Market Focus07-09

On July 9, China Molybdenum fell 3.05% in regular trading, trading at HKD 14.6/share with turnover of HKD 138 million. The decline extends the stock's recent corrective trend as the non-ferrous metals sector faces sustained selling pressure.

The broader Diversified Metals & Mining sector saw widespread weakness, with Jiaxin International Resources down 5.09%, Ximei Resources down 4.14%, Wanguo Gold Group down 3.27%, and MMG down 3.13%. The stock had previously rallied after the company suspended tailings supply to Xiamen Tungsten's subsidiary Luoyang Yulu, which the market interpreted as a strategic move to reclaim high-value tungsten resources amid tungsten prices at near three-year highs. The \"molybdenum replacing tungsten\" semiconductor theme had also catalyzed significant gains in mid-June. With substantial prior gains accumulated, profit-taking pressure continues to weigh on shares, which have corrected notably from their June highs. Meanwhile, BlackRock increased its long position in the H shares to 8.06% as of July 2, suggesting some institutional support amid the pullback.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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