On August 6, JIANGXI COPPER rose 3.36% in regular trading, trading at 38.96 HKD/share, with turnover of approximately HKD 103 million.
On the news front, copper supply-side rigidity continues to intensify as SHFE copper inventories have fallen to 69,000 tons, declining over 110,000 tons year-to-date and hitting a new annual low, further confirming a tight supply-demand dynamic. The company previously issued a profit alert forecasting H1 net profit attributable to shareholders of RMB 7.55 billion to RMB 8.5 billion, representing year-over-year growth of 80.86% to 103.61%. Morgan Stanley noted that copper prices continue to be supported amid persistent supply tightness, while Bank of America Securities rated the stock a Buy, stating the impact of negative TC/RC fees remains manageable in the near term.
Additionally, the company plans to spin off its subsidiary Jiangxi Copper Foil for a Hong Kong main board listing, with a shareholder meeting scheduled for August 7 to review the proposal, indicating ongoing capital market initiatives.
(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.)
Comments