Movement Alert｜MMG Limited Falls 3.72% in Regular Trading, Strong Dollar and Seasonal Demand Weakness Continue Pressuring Copper Sector

Market Focus06-09

On June 9, MMG Limited fell 3.72% in regular trading, trading at HK$8.17 per share, with trading volume of HK$36.41 million, extending its recent multi-day correction trend.

On the news front, the strong US dollar combined with seasonal demand weakness continues to weigh on copper stocks. US May ADP employment data came in at 122,000 new jobs, a 16-month high, further cooling Fed rate cut expectations and pushing the US dollar index firmly above 99.4, systemically pressuring dollar-denominated base metals. Additionally, US May non-farm payrolls of 172,000 significantly exceeded expectations of 85,000, driving the probability of a Fed rate hike in December from 48% to 63%. Domestically, copper consumption has entered a seasonal lull, weakening demand-side support, while easing geopolitical risks have loosened the commodity price rally narrative.

Within the Diversified Metals and Mining sector, the broader group declined in tandem. CMOC fell 2.07%, Lygend Resources fell 1.32%, Wanguo Gold Group fell 1.31%, Ximei Resources fell 0.74%, and Jiaxin International Resources fell 0.68%.

(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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