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Nonferrous metals sector generally rose, with Chinahongqiao (01378) rising 5.75%. In July, prices for nonferrous metal materials increased by 11.3%.
Jingu financial news | The nonferrous metals sector rose across the board, with China Hongqiao (01378) up 5.75%, Luoyang Molybdenum (03993) up 4.25%, Aluminum Corporation of China (02600) up 4.08%, Zijin Mining Group (02899) up 3.35%, and Jiangxi Copper (00358) up 3.1%. On the news front, data from the National Bureau of Statistics showed that in July 2024, the producer prices for industrial products fell by 0.8% year-on-year and 0.2% month-on-month. Among them, prices in the black metal smelting and rolling processing industry fell 3.7%, while prices in the nonferrous metal smelting and rolling processing industry rose.
HK stocks unusual | Aluminum industry valuation level has huge room for improvement. Aluminum Corporation of China (02600) and Chinahongqiao (01378) both rose more than 4%.
Aluminum stocks are collectively rebounding. As of press time, Aluminum Corporation of China (02600) rose 4.14%, at HKD4.28; and Chinahongqiao (01378) increased 4.96%, at HKD9.53.
Yunnan Copper (000878.SZ): Aluminum Corporation of China's shareholding period has expired, accumulating a 1.98% shareholding.
On February 5, 2024, Yunnan Copper (000878.SZ) announced that it received a notice from its indirect controlling shareholder, Aluminum Corporation of China (Chinalco), about a plan to increase its shareholding in the company through the trading system of the Shenzhen Stock Exchange. Chinalco plans to increase its shareholding by no less than 1% of Yunnan Copper's total issued shares, or 20,036,283 shares, and no more than 2%, or 40,072,566 shares, within six months. As of the date of this announcement,
HK Stocks Movement: Non-ferrous metal stocks plummeted in early trading, and it will still take time for domestic policies to be transmitted. The overseas macro game has intensified.
Non-ferrous metal stocks fell sharply in the morning. As of the time of writing, Aluminum Corporation of China (2600) fell 4.29% to HK$4.24; CMOC Group Limited (3993) fell 3.63% to HK$6.11; Zijin Mining Group (2899) fell 3.39% to HK$15.4; Jiangxi Copper (358) fell 3.45% to HK$13.44.
Hong Kong stock concept tracking | Institutions bullish on aluminum industry's profit and valuation synchronization improvement due to tight supply and demand of bauxite (including concept stocks)
Industry insiders say that the supply of bauxite will continue to limit alumina production in the second half of 2024.
Statistics on the abnormal proportion of Smart Hong Kong Stock Connect on July 31st.
Statistics on abnormal proportion of smart Hong Kong stock connect on July 30, 2024.
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151467742 : $YANZHOU COAL MININ (YZCAY.US)$ Dude, which coal futures market has the most influence?