No Data
CMOC Group Limited (HKG:3993) Shares Could Be 30% Below Their Intrinsic Value Estimate
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.
Hong Kong stocks fluctuate | CMOC Group Limited (03993) fell more than 4% in trading, and it is expected that the excess supply of cobalt by Katanga Mining Ltd. may continue for two years.
CMOC Group Limited (03993) fell more than 4% during the trading session. As of the time of writing, it fell by 2.82% to HKD 5.85, with a turnover of HKD 99.2054 million.
CEO of Glencore (GLNCY.US): Cobalt oversupply could last for two years.
Cobalt oversupply may continue until 2026.
GF Sec: Gold is expected to continue to hit new highs in August, while basic metals are expected to stop falling and rebound.
Global actual demand for basic metals in July remains weak, with strengthening trade due to expectations of recession causing a fall in basic metal prices. The expectation of interest rate cuts in the USA is high, and gold prices may continue to fluctuate upward.
Northeast Securities: Recessionary trading is expected to drive gold prices to continue to rise, with limited copper price declines.
As interest rates decline and trading shifts from recession to decline, the price of gold is expected to continue to strengthen. In the long term, against the backdrop of global currency devaluation, geopolitical conflicts, and economic uncertainty, the value of gold allocation is highlighted.
CMOC Group Limited's (HKG:3993) 28% Share Price Surge Not Quite Adding UpNo Data
