On September 18, CHINFMINING rose 3.04% in regular trading, trading at HK$15.95 per share, with turnover of approximately HK$83.42 million. The stock advanced alongside a broad copper sector rally.
On the news front, copper stocks moved higher as market risk appetite improved following the Federal Reserve decision. Geopolitical tensions in the Middle East showed signs of easing, with Saudi Arabia reportedly seeking Oman's mediation for a temporary ceasefire with Houthi forces. On the supply side, disrupted mines are recovering slowly, domestic electrolytic copper and scrap copper supply remain tight, and social inventories are running at extremely low levels. Market analysts expect copper prices to sustain high-level consolidation in the near term.
CHINFMINING recently reported robust first-half results, with revenue of US$2.261 billion, up 29.1% year-over-year, and attributable profit of US$434 million, up 64.7%, driven by copper price strength and surging sulfuric acid revenues. The company also completed a US$300 million zero-coupon convertible bond issuance to fund its Luanshya Shaft No. 28 sulfide ore project in Zambia, with mid-to-long-term copper production capacity expected to nearly double.
(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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