HK Stock Market Move | The copper industry stocks collectively rose, the sharp fall in international oil prices eased inflation expectations, and the expectation of copper tariffs widened the non-US supply gap.

The copper sector collectively rose, as of the time of writing, JIANGXI COPPER (00358) rose by 5.86% to HK$33.58; CHINFMINING (01258) rose by 5.83% to HK$14.17; MMG (01208) rose by 5.14% to HK$8.8; Zijin Mining Group (02899) rose by 3.99% to HK$3.06. On the news front, on Thursday, Trump announced a further suspension of strikes against Iran, leading to a sharp drop in international oil prices and a significant easing of inflation expectations, causing international copper prices to rebound. Additionally, the US government is set to make a decision on tariffs on refined copper imports. According to the proposal under discussion, the US may impose a 15% tariff on refined copper imports starting from January 1, 2027, and further increase it to 30% by 2028. Market expectations suggest that once the tariffs are implemented, the premium of COMEX copper prices relative to LME copper prices will expand to around 15%. Currently, the premium stands at around 6%, attracting traders to ship large quantities of copper to the US. Goldman Sachs has significantly raised its copper price forecasts, raising its average forecast for London copper in 2027 by 28% to $13,800 per ton, with the core logic being the sudden expansion of supply deficits in markets "outside the US".