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MMG Swells 8% as Copper Price Jumps to New High; Guoseng Securities Expects Shortage in Copper Supply Next Yr
Recommend 21 Positive 40 Negative 15 |
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The London Metal Exchange 3-month copper future price hit a record high last Friday (28th). Some market participants predicted that the recent boom in large-scale metal shipments to the US could lead to a rapid depletion of stocks in other regions and, in turn, push up copper prices even further. Copper miners were hyped up today. ZIJIN MINING (02899.HK), one of the blue chips, opened 1.7% higher, and it last traded at HKD32.04, up 4.36%, with a volume of 46.9575 million shares, involving HKD1.513 billion. MMG (01208.HK) last printed at HKD7.49, up 8.39%, with a turnover of HKD439 million. JIANGXI COPPER (00358.HK) last rose by 7.76% to HKD33.06, with a turnover of HKD929 million. CHINFMINING (01258.HK) was last at HKD15.95, up 6.69%, with a turnover of HKD147 million. CMOC (03993.HK) last traded at HKD17.05, up 5.51%, with a turnover of HKD663 million. Looking back on this year, Guoseng Securities said persistent disruptions at the mining end were beyond market expectations and confirmed a shortage pattern for 2026. Excluding unexpected disturbances, the broker estimated copper mine supply to increase by only 630,000 tons in 2026, which will be insufficient to fill the gap created by growing demand. AAStocks Financial News |
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