On June 29, Jiangxi Copper (00358.HK) rose 3.26% in regular trading, trading at HK$32.38/share, with turnover of HK$131 million. The rebound comes after the stock suffered sharp consecutive declines in previous sessions, falling from above HK$40 to around HK$31.
The bounce appears linked to market repositioning ahead of the June 30 deadline for the US Commerce Department to submit its updated copper tariff assessment report. The stock had been heavily sold off on fears that the US may impose a 15% tariff on refined copper imports starting 2027, escalating to 30% in 2028. However, market analysis has highlighted that Chinese-produced cathode copper accounts for less than 1% of total US refined copper imports, suggesting the direct negative impact on domestic Chinese copper smelters including Jiangxi Copper would be minimal even if tariffs are implemented.
Additionally, institutional investors including JPMorgan and BlackRock have recently increased their holdings in the company, with JPMorgan raising its stake to 7.07% on June 16 and BlackRock lifting its position to 5.57% in early June, signaling longer-term confidence in the stock.
(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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