On July 30, JIANGXI COPPER fell 3.07% in regular trading, trading at 33.42 HKD/share, with turnover of 126 million HKD. The decline extends recent selling pressure in the copper sector.
On the news front, the U.S. dollar index remains above 101, continuing to weigh on USD-denominated copper prices. The Fed's July rate decision meeting is underway, with market expectations for rate cuts cooling significantly and September rate hike probability elevated to near 55%, adding macro headwinds to base metals. Additionally, BlackRock reduced its JIANGXI COPPER H-share stake from 5.33% to 4.70% as of July 16, reinforcing institutional selling sentiment. On the supply side, Indonesia's Grasberg mine restart is expected to approach full capacity by late next year, with analysts noting this represents medium-term supply pressure that constrains copper price upside.
Within the Copper sector, CDAYENONFER fell 2.13%, while CHINFMINING, JINCHUAN INTL, and CMRU traded flat, and JINXUN RESOURCE rose 7.95%.
(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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