Zijin Mining: The financial attributes and strategic asset value of copper continue to be highlighted

On March 23, executives of Zijin Mining stated at the 2025 annual performance briefing that looking ahead to 2026, the main theme of the copper market operation will revolve around "macro game" and "structural scarcity". At the macro level, against the backdrop of intensified competition in a complex external environment and key mineral resources, the financial attributes of copper and its strategic asset value continue to be highlighted. Geopolitical conflicts, economic uncertainty, repeated expectations of interest rate cuts, and disturbances in trade policies may exacerbate short-term price volatility risks. As macro disturbances are gradually digested, the market trading theme will return to supply and demand fundamentals. In the medium to long term, against the backdrop of long-term insufficient global mining capital expenditure and rising protectionism, the rigid constraint on copper supply is increasingly evident, and long-term incentive prices are expected to become a solid price base.