Movement Alert｜CHINFMINING Falls 5.29% in Regular Trading, Copper Sector Remains Under Pressure from Rate Hike Expectations and Weaker Copper Sentiment

Market Focus10-26

On October 26, CHINFMINING fell 5.29% in regular trading, trading at HK$12.02, with turnover of HK$20.55 million.

The move came as copper names stayed weak on rising rate hike expectations, which lifted the US dollar and Treasury yields and pressured dollar-denominated industrial metals, weighing on sector sentiment.

Recent company disclosures were fundamentally strong, with CHINFMINING expecting attributable profit of about US$634 million for the first nine months, up 78% year on year, helped by higher global copper prices and stronger sulfuric acid selling prices. However, operating data were softer, with copper cathode output down 3% to 104,961 tonnes, blister copper and copper anode output down 9% to 280,636 tonnes, sulfuric acid output down 8% to 727,297 tonnes, and cobalt output down 71% to 199 tonnes, limiting support for the shares amid a broader sector selloff.

(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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