Morgan Stanley: Expects JIANGXI COPPER (00358) and CMOC (03993) Share Prices to Rise Within 15 Days, Both Rated "Overweight"

Stock News11-26

Morgan Stanley released a research report stating that Chen Xuesen, Vice Chairman of the China Nonferrous Metals Industry Association, indicated that approximately 2 million tons of copper smelting capacity have been suspended due to government directives aimed at curbing excess production. Additionally, all ongoing smelting projects violating regulations have been halted. If this policy is effectively implemented, it will benefit copper prices and major copper producers. The bank expects the share prices of JIANGXI COPPER (00358) and CMOC (03993) to rise within the next 15 days, with a probability of 70% to 80%. The target prices are set at HK$37.3 and HK$18.6, respectively, with both stocks rated "Overweight."

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