Movement Alert｜China Molybdenum Falls 3.01% in Regular Trading, Molybdenum Price Weakness Persists as Profit-Taking Continues After Prior Sharp Rally

Market Focus06-24 15:05

On June 24, China Molybdenum (03993.HK) fell 3.01% in regular trading, trading at HKD 16.71/share, with turnover of HKD 710 million.

On the news front, domestic molybdenum markets continued to trend weak, with ferromolybdenum prices having recently dropped by RMB 3,000/ton in a single day. Steel enterprises maintained strong price-suppression intentions, while traders showed muted willingness to enter the market, putting overall pressure on the molybdenum sector.

The stock had previously triggered an abnormal trading activity announcement after its A-share cumulative gain exceeded 20% over three consecutive trading days, and profit-taking pressure from the prior surge continues to unwind. Additionally, BlackRock recently reduced its H-share stake from 8.19% to 7.64%, with this institutional selling signal further intensifying market selling pressure. The broader diversified metals and mining sector remained weak, with MMG down 1.96%, Lygend Resources down 2.31%, and Wanguo Gold Group down 1.81%, reflecting sector-wide drag on share price performance.

(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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