Movement Alert|Jiangxi Copper Falls 7.38% in Regular Trading, US Non-Farm Payrolls Surge Fuels Rate Hike Expectations Pressuring Copper Prices

Market Focus06-08

On June 8, Jiangxi Copper fell 7.38% in regular trading, trading at HKD 33.78/share, with trading volume of HKD 160 million.

On the news front, the US May non-farm payrolls report showed 172,000 new jobs added, far exceeding the market consensus of 85,000. Additionally, April and March figures were revised upward by a combined 93,000. The resilient labor market data further reinforced expectations for a Fed rate hike within the year. The US dollar index surged back above the 100 level, while New York copper tumbled over 4%, broadly pressuring USD-denominated non-ferrous metals.

Within the Copper sector, stocks declined broadly. Among peers, JINXUN RESOURCE fell 7.31%, CHINFMINING fell 6.18%, CDAYENONFER fell 4.08%, while JINCHUAN INTL and CMRU were flat.

(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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