HK Stock Market Move | Copper stocks rise and Jiangxi Copper (00358) increases by over 3%. Tightening supply is expected to drive copper prices upwards.

The copper industry stocks rose, as of the time of writing, JIANGXI COPPER (00358) rose by 3.42% to 30.88 Hong Kong dollars; CHINFMINING (01258) rose by 2.27% to 13.57 Hong Kong dollars; CMOC Group Limited (03993) rose by 1.75% to 15.72 Hong Kong dollars. On the news front, according to media reports citing informed sources, mining giant Glencore is planning to close its Horne smelter in Quebec, Canada, and its accompanying Canadian copper refinery due to environmental issues and the huge capital investment required for the renovation. CITIC SEC released a research report stating that the supply-demand gap is expected to widen, and copper prices are expected to reach new highs in 2026. Against the backdrop of major disruptions in existing projects and bottlenecks in new projects, global major copper mining companies' production in Q3 of 2025 is expected to decrease by nearly 5% year-on-year, with a further contraction in Q4. The bank believes that the shortage of raw materials and potential "anti-inner loop" measures will help shrink domestic refined copper supply in Q4, coupled with stable demand, domestic inventories are expected to gradually deplete, while next year's low supply and steady demand will help widen the global refined copper supply gap by 50%, with LME copper prices expected to show upward elasticity above $10,000/ton. The recommended copper plate sector allocation opportunity.