Jiangxi Copper fell 2.73%, MMG fell 1.3%, Chinfmining fell 4.07%, and Chiho env fell 3.92% due to pressure on copper stocks.
Galaxy Securities stated that last week, SHFE copper prices fell by 1.52% to 78,950 yuan/ton, SHFE copper inventories decreased 1.72% to 0.3161 million tons, domestic copper concentrate prices fell 1.50% to 65,688 yuan/ton, and imported copper concentrate TC was 1.0 USD/ton. Supply-wise, the shipping schedule is generally normal, the maintenance of smelters is close to completion, and it is expected that the prices of shipping goods in the near future may rise slightly; however, the prices of shipping goods in the fourth quarter may remain at a low level. CSPT Group confirmed that the guidance processing fee for spot copper concentrate in the third quarter is $30/tonne and 3.0 cents/pound, compared to $80/tonne and 8.0 cents/pound in the first quarter of this year, which is a significant decrease. Demand-wise, the refined copper rod market is affected by the off-season, and demand is weak, downstream orders are limited, raw material procurement only meets rigid demand, and consumption transactions continue to be dull, with rising enterprise inventories and a decrease in the operating rate.