On June 25, China Moly (03993.HK) declined 4.06% in regular trading, trading at HKD 16.14/share, with turnover of approximately HKD 97.74 million. The stock has been under sustained selling pressure following a prior sharp rally that triggered an abnormal trading alert after cumulative gains exceeded 20% over three consecutive sessions.
On the fundamental side, domestic molybdenum markets remain weak. Ferromolybdenum prices recently dropped approximately RMB 3,000/ton in a single day, while ammonium tetramolybdate fell RMB 2,000/ton and molybdenum powder declined RMB 5/kg. Steel enterprises have maintained strong price-suppression strategies, and traders show limited willingness to enter the market, resulting in sluggish order growth across the sector.
Additionally, BlackRock recently reduced its H-share holdings from 8.19% to 7.64%, sending an institutional de-risking signal that further intensified market selling pressure. The broader Diversified Metals and Mining sector continued to trade weak, with MMG down 4.95%, Wanguo Gold Group down 7.69%, Jiaxin International Resources down 4.31%, and Lygend Resources down 2.69%, reflecting broad-based sector drag on share price performance.
(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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