Movement Alert|China Nonferrous Mining Falls 3.27% in Regular Trading, Fed Rate Hike Expectations Suppress Copper Prices Amid Broad Sector Weakness

Market Focus05-27

On May 27, China Nonferrous Mining fell 3.27% in regular trading, trading at 14.23 HKD/share, with trading volume of HKD 103 million, giving back gains from the prior session's rebound.

On the news front, a latest weekly report noted that the probability of a Fed 25-basis-point rate hike in December has risen to 42.5%, with persistent tightening expectations continuing to cap copper price upside. Copper prices are expected to remain range-bound at elevated levels in the near term. On the demand side, electrolytic copper rod weekly utilization fell 1.54 percentage points week-over-week, signaling soft short-term demand.

Within the Copper sector, the overall tone was weak. Among individual stocks, China Daye Nonferrous Metals down 3.85%, Jiangxi Copper down 3.39%, Jinxun Resource down 0.30%, Jinchuan International flat, CMRU flat, reflecting a broad-based decline across the sector.

(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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