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Hong Kong stocks movement | Copper industry stocks declined across the board as the strong performance of the US dollar puts pressure on copper prices. Institutions state that demand expectations remain the core factor in copper price determination.
Copper stocks fell across the board. As of the time of this report, MMG (01208) dropped by 3.15% to 2.46 HKD; CMOC Group Limited (03993) fell by 2.91% to 5.33 HKD; CHINFMINING (01258) decreased by 2.14% to 5.02 HKD; and Zijin Mining Group (02899) slid by 1.95% to 14.08 HKD.
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French miners lament that the profitability of nickel mining business cannot be achieved without china technology and equipment.
① The multinational mining giant Ehmann stated that western companies cannot make a profit in the nickel mining business in Indonesia without relying on china's technology, equipment, and management experience; ② Ehmann and BASF have canceled the 2.6 billion dollar nickel-cobalt refining plant project in Indonesia due to it being 'economically unfeasible'; ③ Ehmann is collaborating with China’s Qingshan Holding to operate the nickel mine in Weda Bay, with the CEO stating that china's technology, expertise, and equipment are key to competitiveness.
Cancellation of aluminum and copper material export tax rebates; domestic and international prices show differentiation; leading enterprises accelerate overseas layout.
① Following the announcement of the cancellation of export tax rebates for aluminum and copper materials, aluminum prices showed a trend of "strong externally, weak internally"; ② In the long term, this will drive the industry to focus on high value-added product areas and the overseas expansion of enterprises.
Copper Expected to Get Election Day Boost -- Market Talk
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