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CHINFMINING (01258.HK) subsidiary spent 29.8938 million USD to purchase cathode Copper.
On December 31, 2023, CHINFMINING (01258.HK) announced that on December 31, 2024, its directly controlled subsidiary, China Hong Kong Holdings, signed a purchase agreement with Jicaming for high-grade cathode Copper. According to this agreement, China Hong Kong Holdings will purchase a total of 3,151.696 metric tons of high-grade cathode Copper processed by China Huanxin using a total consideration of approximately 29.8938 million USD.
Express News | China Nonferrous Mining Corp Ltd - Purchase of Copper Cathodes by Unit for $29.9 Mln
Hong Kong stocks movement | Copper industry stocks declined across the board as the strong performance of the US dollar puts pressure on copper prices. Institutions state that demand expectations remain the core factor in copper price determination.
Copper stocks fell across the board. As of the time of this report, MMG (01208) dropped by 3.15% to 2.46 HKD; CMOC Group Limited (03993) fell by 2.91% to 5.33 HKD; CHINFMINING (01258) decreased by 2.14% to 5.02 HKD; and Zijin Mining Group (02899) slid by 1.95% to 14.08 HKD.
Copper Falls After Fed Signals Rate-Cut Slowdown -- Market Talk
Mingsheng Securities: Supply constraints will still be strong in 2025, and the demand for Copper and Aluminum is quite resilient.
Looking ahead to 2025, supply-side constraints remain strong, and demand is resilient. It is recommended to invest in the sector of Industrial Metals, specifically in symbols of Copper and Aluminum.
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