Movement Alert｜CMOC Group Rises 3.08% in Regular Trading, Copper Inventory Drawdown Exceeds Expectations as Molybdenum Prices Hit Near Three-Year High

On July 22, CMOC Group rose 3.08% in regular trading, trading at HK$17.17/share, with turnover of HK$47.76 million.

On the news front, copper stocks rallied broadly as Shanghai Futures Exchange copper inventory fell sharply to 35,091 tons on July 20, down 4,561 tons or approximately 11.5% from the previous day, with the pace of inventory drawdown exceeding market expectations and the supply-demand tightening thesis materializing. Simultaneously, molybdenum prices have been running at near three-year highs, with the molybdenum-for-tungsten substitution trend elevating the strategic value of molybdenum materials, directly benefiting the company's molybdenum-tungsten business segment.

On fundamentals, the company previously disclosed an expected H1 net profit of RMB 15.5-16.5 billion, representing 79%-90% YoY growth, driven by copper product volume and price increases alongside consolidation of its Brazilian gold mine. Bank of America Securities maintained a Buy rating with a target price of HK$22, citing copper price resilience and production growth. JPMorgan also increased its stake by approximately 2.75 million shares on July 14 at HK$15.62 per share, lifting its holding to 6.00%.

(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.)