Movement Alert|JIANGXI COPPER Falls 3.06% in Regular Trading, Copper Sector Under Pressure Amid Senior Executive Departure

Market Focus09-02

On September 2, JIANGXI COPPER fell 3.06% in regular trading, trading at 35.74 HKD/share, with turnover of approximately 46.76 million HKD, extending its nearly 5% decline from the prior session.

On the news front, the company announced on September 1 that Vice President, Joint Company Secretary, and Board Secretary Tu Dongyang resigned from all positions effective August 31 due to a job transfer, and will no longer hold any role at the company. Tu held no shares in the company and had no outstanding commitments. Prior to the appointment of a new Board Secretary, Vice Chairman Zhou Shaobing will assume the responsibilities on an interim basis. The company stated that daily operations and information disclosure remain unaffected.

The management reshuffle compounded broader weakness across the copper sector. Within the Copper sector, CHINFMINING fell 4.03%, CDAYENONFER fell 4.43%, JINXUN RESOURCE fell 2.75%, while JINCHUAN INTL and CMRU were flat. Industry-level headwinds persist, with analyst reports noting significant uncertainty in copper ore supply for the second half and smelter margins squeezed by processing charges falling to negative territory.

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