On May 20, Jiangxi Copper fell 3.12% in regular trading, trading at HK$34.22/share, with trading volume of approximately HK$149 million. The decline extends a multi-day losing streak across the copper sector as macro headwinds and subdued demand persist.
On the news front, US April PPI surged 6% year-over-year, hitting its highest level in over three years, while core PPI rose 5.2% — both far exceeding market expectations. The CME FedWatch tool now shows the probability of a 25-basis-point Fed rate hike in December has climbed to nearly 40%, strengthening the US dollar and pressuring copper prices. Institutions note that elevated copper prices are suppressing downstream procurement appetite, with the market limited to rigid restocking demand and short-term copper prices likely to remain range-bound under pressure.
The copper sector extended its broad-based retreat, with peers JINXUN RESOURCE down 3.63%, CHINFMINING down 1.64%, and CDAYENONFER down 0.93%, reflecting significant sector-wide linkage effects.
(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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