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Economic 'soft landing' combined with the wave of AI demand! Is there hope for the copper stocks to open up room for growth?
With the unexpected 50 basis point rate cut by the Federal Reserve, there has been a shift in the previously intense debate about whether the US economy will experience a "hard landing". The copper sector rose nearly 2% overall yesterday, showing strong performance.
Hong Kong Stocks Gain for Third Consecutive Day Ahead of US Fed Rate Cuts
Will copper prices soar in the long term? BHP Group Ltd: The AI wave will intensify the copper shortage.
①Although the global copper market is currently in a stage of weak demand, mining giant BHP Group Ltd warns that future copper demand will soar to a large extent due to the wave of artificial intelligence; ②BHP Group Ltd warns that copper is a key metal in the transition to clean energy, and the development of artificial intelligence will exacerbate the copper shortage problem.
China Daye Non-Ferrous Metals Mining Unit Halts Operation Amid Fire Incident; Shares Rise 6%
A fire broke out at Daye Nonferrous Metals (00661.HK) Hubei Plant, causing production to be suspended and entering a state of insulation.
cdayenonfer (00661.HK) announced that on the afternoon of September 14 at 5 pm, a fire occurred at one of Yangxin Hongsheng Copper's facilities in the Huangshi Xingang (logistics) Industrial Park in Hubei Province, leading to the shutdown of the smelting and blowing furnace systems entering the insulation state. The fire was extinguished around 8:30 pm that day without causing any casualties, and the cause of the fire is still under investigation. The group's total cathode copper production last year was 0.6252 million tons. Excluding the reduced production due to the fire this year, the expected cathode copper production is 0.68 million tons. However, due to a significant decline in smelting processing fees this year, it is expected that the shutdown and reduced production caused by the fire will not significantly affect the annual operating performance.
cdayenonfer(00661.HK) is located in Yangxin Hongsheng Copper One in Huangshi Xingang (logistics) Industrial Park, where a fire broke out.
On September 16th, GeLongHui reported that on the afternoon of September 14th, 2024, a fire broke out at a facility owned by China Daye Nonferrous Metals (00661.HK) in Yangxin Hongsheng Copper Co., Ltd., located in the Huangshi Xingang (Logistics) Industrial Park in Hubei Province, China. The fire caused the smelting and refining furnace system to shut down and enter a heat preservation state. The fire was extinguished at around 8:30 pm that day, and no casualties were reported. The cause of the fire is still under investigation. The group's annual cathode copper production was 0.6252 million tons last year, and excluding the production reduction caused by the fire, this year's estimated cathode copper production is 0.68 million tons. However, due to the smelting and processing operations for the year 2024...
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