Movement Alert｜MMG Rises 3.2% in Regular Trading, Copper Prices Hit New Highs Amid Supply Tightness and AI-Driven Demand

Market Focus09:32

On September 23, MMG rose 3.2% in regular trading, trading at HK$9.115/share, with turnover of HK$48.5936 million. The stock advanced alongside broader strength in the diversified metals and mining sector, with peers CMOC up 2.1% and Zijin Mining up 1.7%.

The rally comes as copper prices have surged to record highs, driven by a convergence of structural supply tightness, accelerating demand from AI data centers and new energy sectors, and global inventory dislocations triggered by anticipated U.S. tariffs on refined copper. Industry data shows global copper mine output declined approximately 1.1% year-on-year in the first half, while refined copper consumption rose 2.3%, underscoring a widening supply-demand gap.

MMG remains well-positioned as a major copper producer. The company reported record H1 results on September 17, with revenue of US$4.54 billion, up 61% year-on-year, and adjusted net profit of US$897 million, surging 164%. Its flagship Las Bambas mine generated US$3.308 billion in sales revenue. Research coverage has projected total copper capacity rising to approximately 610,000 tonnes by 2028, supporting medium-term growth.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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