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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.
Kaiyuan Securities: In the declining trading stage, the winning rate is king. In August, gold is expected to have a leading relative return.
At the beginning of the year, it was believed that gold and copper allocation would be throughout 2024, but in the early stage of interest rate cut in the second half of the year, it may be necessary to choose the direction of recession trade or second inflation trade.
Express News | Exclusive-China's Cmoc and Other Miners Have Applied for Copper From Drc to Get Lme Listing, Sources Say
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