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Cobalt metal under pressure, cmoc group limited (03993) fell by 6.32%. Gtja sees a cautious demand atmosphere in the sector.
Cobalt metal is under pressure, with Cmoc Group Limited (03993) falling by 6.32% and Jinchuan Intl (02362) falling by 5.26%. Gtja pointed out that the cobalt sector is in a wait-and-see atmosphere of demand, and the driving force for cobalt salt price increase is insufficient. Under the game of cobalt prices, cobalt companies extend downstream to the new energy manufacturing industry, forming an integrated cost advantage of cobalt-nickel-precursor-three yuan, and enhancing competitive barriers. As for electrolytic cobalt, overseas prices continue to decline. The demand for electrolytic cobalt in the domestic downstream high-temperature alloy and magnetic material markets is flat, and the on-site transaction atmosphere is poor. As for cobalt salt, the downstream continued to rise with insufficient driving force, and some smelters sold at low prices. The price of cobalt salt
Jinchuan Group Reports Delay in Mining Permit Renewal, Connected Disposal
Jinchuan Intl (02362): Liu Jian resigns as non-executive director.
Jinchuan Intl (02362) announced that Mr. Liu Jian has resigned from non-executive director, effective from June 30, 2024 ...
Despite Shrinking by HK$875m in the Past Week, Jinchuan Group International Resources (HKG:2362) Shareholders Are Still up 74% Over 1 Year
HK Stocks Surge | Jinchuan Intl (02362) rose more than 9% during trading hours. The Musonoi project is about to be put into operation, which is expected to become the main driving force for the company's future growth.
Jinchuan Intl (02362) rose more than 9% during trading, as of press time it rose 4.82%, closing at HKD 0.87 with a turnover of 25.476 million Hong Kong dollars.
China Post Securities focuses on initiating a "buy" rating for Jinchuan International (02362), indicating that the Musonoi Mine production will be the company's main growth driver in the future.
Jin Gu Cai Xun | China Post Securities' research report pointed out that changes in copper and cobalt prices are the main factors affecting Jinchuan International's (02362) performance. From 2019 to 2023, the company's performance experienced significant fluctuations from troughs to peaks and then to troughs again. Among them, the company's mining business income continued to rise from 2019 to 2022, from $368 million to $649 million, with a compound annual growth rate of 20.82%. The trading business has declined significantly since 2020, and has fluctuated slightly around $200 million since then. The main reason for the company's performance changes is the fluctuations in copper and cobalt prices, as well as public events and policy changes.
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