HK Stock Market Move | CDAYENONFER (00661) rose more than 16% in the afternoon, with frequent positive news from the smelting end and potential for improvement in smelting fees.

CDAYENONFER (00661) rose more than 16% in the afternoon, up 13.33% as of the time of writing, at HK$0.102, with a turnover of HK$118.517 million. On the news front, positive news from the domestic smelting side is frequent. On October 30, CSPT's third quarter general manager meeting reached consensus on the BM system for users, resisting the use of the average index pricing method by traders and smelters, preventing vicious competition, and initiating a blacklist system. On October 29, the China Nonferrous Metals Industry Association pointed out that, drawing lessons from the experience of electrolytic aluminum, it is considering setting production capacity ceilings for bulk metals such as copper, lead, and zinc. Orient pointed out that the growth rate of midstream smelting capacity is expected to slow down under the expectation of "anti-inner loop" measures, and there may be room for upward improvement in mid-term smelting fees from a marginal perspective. It is reported that CDAYENONFER's revenue decreased by over 10% in the first half of the year, mainly due to the dual effects of accelerated release of domestic and foreign smelting capacity and tight supply of copper concentrate, resulting in continued low operating costs for smelting and reduced production of enterprise products.