Movement Alert|China Nonferrous Mining Rises 4.69% in Regular Trading, Technical Rebound After Over 20% Pullback Combined with Copper Sector Recovery

Market Focus05-21

On May 21, China Nonferrous Mining rose 4.69% in regular trading, trading at HKD 13.93/share, with trading volume of approximately HKD 30.25 million.

The stock had been declining for multiple consecutive trading sessions since May 14, accumulating a drawdown exceeding 20%, which triggered a technical rebound as short-term oversold conditions were released. The prior selloff was driven by profit-taking following a sharp rally in mid-May, compounded by the unlocking of 2.45 million restricted shares on May 13 and rising Fed rate hike expectations that suppressed the broader metals sector.

From a fundamental perspective, the company reported Q1 net profit attributable to shareholders surging approximately 63% year-over-year, with comprehensive copper production of roughly 549,600 tonnes and gross margin improving to 31.1%, providing underlying support. The copper sector broadly recovered today, with China Daye Nonferrous Metals up 3.64%, Jinxun Resource up 2.94%, and Jiangxi Copper up 1.72%, reflecting a sector-wide stabilization that helped lift 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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