On June 9, China Nonferrous Mining fell 3.06% in regular trading, trading at HK$12.91/share, with trading volume of HK$32.60 million. The copper sector remained broadly under pressure, with peer stocks Jiangxi Copper down 3.22% and Jinxun Resource down 2.79%.
On the news front, U.S. May non-farm payrolls released last Friday showed 172,000 new jobs added, far exceeding the market consensus of 85,000, while March and April figures were revised upward by a combined 93,000. The strong labor market data pushed the probability of a Fed rate hike in December from 48% to 63%, intensifying concerns over tightening liquidity conditions. Institutions noted that continued liquidity contraction is becoming the core variable constraining copper prices, limiting upside drivers and keeping the metal prone to volatile and weak trading patterns. LME copper had already declined in the prior session, with New York copper falling over 4% on the non-farm data release day.
(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.)
Comments