HK Stock Market Move | The copper industry stocks collectively strengthened in the morning, geopolitical concerns combined with gold price guidance. Institutions predict that copper prices are likely to continue the trend of fluctuating upwards.

Copper stocks collectively strengthened in the morning, as of the press release, CHINFMINING (01258) rose 12.02% to 16.68 Hong Kong dollars; MMG (01208) rose 11.02% to 5.05 Hong Kong dollars; CHINAGOLDINTL (02099) rose 7.25% to 233.6 Hong Kong dollars; Zijin Mining Group (02899) rose 5.05% to 42.46 Hong Kong dollars; JIANGXI COPPER (00358) rose 4.07% to 47.06 Hong Kong dollars. On the news front, Zhengxin Futures stated that macroeconomic expectations have cooled slightly, but geopolitical concerns remain. Although the US government continues to pressure the Federal Reserve, the market is relatively conservative in pricing for interest rate cuts, and inflation data has not exceeded expectations, with a decline in unemployment rate, indicating the resilience of the US economy. From an industrial perspective, although the future supply and demand expectations are currently difficult to disprove, weak practical features continue in the short term, with global inventories further increasing to 1 million tons. After adjusting below the 100,000 mark, copper prices rebounded again, mainly driven by geopolitical factors and gold price guidance, with prices fluctuating at high levels. Guangzhou Futures believes that the current driving force for the rise in copper prices has softened slightly, but with fragile copper mine supply + rigid demand from emerging sectors, as well as the increasingly strengthened strategic resource attributes, the bottom of copper prices remains solid, with limited adjustment space. There is a tendency for a continued upward trend after a period of consolidation and accumulation.