On May 26, China Nonferrous Mining rose 3.34% in regular trading, trading at HKD 14.58/share, with trading volume of approximately HKD 73.58 million, extending a multi-session rebound.
On the news front, the stock had declined over 20% cumulatively since May 14, creating technical oversold conditions that continue to fuel rebound demand. On the supply side, Chile's Codelco admitted production data errors that resulted in output falling to its lowest level since 1998. Additionally, Peru's energy crisis bill, which took effect on May 11 and deprioritizes industrial and mining electricity usage, continues to stoke supply disruption concerns for the world's second-largest copper-producing nation. CITIC Securities expects copper prices to challenge previous highs as domestic destocking exceeds expectations and macro headwinds ease, projecting Q2 copper prices to stabilize above USD 13,000/tonne.
Fundamentally, the company reported Q1 net profit attributable to shareholders surging approximately 63% year-over-year, with gross margin improving to 31.1%, providing continued earnings support.
(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.)
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