HK Stock Market Move | Copper stocks fluctuate higher; Deutsche Bank warns the copper market is facing a severe shortage, with gains potentially exceeding 50% in half a year.
Copper stocks fluctuated higher. As of press time, China Nonferrous Mining (01258) rose 4.07% to HK$15.6; MMG (01208) rose 3.48% to HK$8.615.
Copper stocks fluctuate higher. As of press time, CHINFMINING (01258) rose 4.07% to HK$15.6; MMG (01208) rose 3.48% to HK$8.615; CMOC Group Limited (03993) rose 2.76% to HK$15.29; JIANGXI COPPER (00358) rose 2.26% to HK$32.56.
On the news front, Deutsche Bank warned that globally freely tradable copper inventories have fallen to unprecedented lows. The United States' continued stockpiling is squeezing the spot supply available to other markets and could push the copper market into a "historic scramble." Daniel Ghali, the bank's head of metals research, said on Monday that the copper market is currently facing "the worst copper shortage on record." Under the bank's extreme scenario, copper prices could rise to US$22,050 per tonne by the second quarter of 2027, an increase of about 50% from current levels.
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