Movement Alert|Jiangxi Copper Falls 3.06% in Regular Trading, Fed Rate Hike Expectations Continue to Suppress Copper Prices

Market Focus06-10 09:44

On June 10, Jiangxi Copper fell 3.06% in regular trading, trading at 32.48 HKD/share, with trading volume of 23.55 million HKD. The stock has declined over 15% cumulatively since June 4.

On the macro front, the US May non-farm payrolls data significantly beat expectations at 172,000 versus the consensus estimate of 85,000, with prior months revised upward by a combined 93,000. The strong labor market data reinforced Fed rate hike expectations, pushing the US dollar index back above 100 and pressuring New York copper down over 4%. The stronger dollar continues to weigh broadly on USD-denominated base metals.

Institutional analysts note that ongoing liquidity contraction is becoming the core variable constraining copper prices, with limited upside drivers and an overall bias toward range-bound weakness. Within the Copper sector, stocks showed mixed performance, with CHINFMINING down 0.54%, JINXUN RESOURCE down 0.19%, while CDAYENONFER, JINCHUAN INTL, and CMRU traded flat.

(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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