SGZIJIN@EC2612A.C (25525) News

LME copper hits all-time high! Tariff arbitrage triggers LME copper squeeze, while production cuts by major miners intensify supply-side pressure.

London copper prices surged 47% over the past 12 months, primarily driven by market expectations that Trump will continue to expand tariffs on copper. Copper futures on the New York Exchange maintained a significant premium over London prices, triggering arbitrage activities that drove LME physical inventories down to critically low levels in August, sparking a major short squeeze. Meanwhile, Chile, the world's largest copper producer, saw its copper export revenue fall to a more-than-one-year low in August, raising the possibility of the first annual decline in global mine supply since 2017.

wallstreetcn04:21

Hong Kong Stocks Midday Review | Hang Seng Index Falls 0.27% in Morning Session; Hynix Shares Surge Against the Trend with 2x Leverage

Gold stocks rebounded this morning. The People's Bank of China has increased its gold holdings for the 22nd consecutive month, while the Federal Reserve's September rate hike remains contingent on

Zhitong Finance11minutes ago

LME copper prices hit a record high, with CMOC Group (03993.HK) and Jiangxi Copper (00358.HK) rising more than 4%

Copper prices on the London Metal Exchange (LME) hit a record high as supply concerns intensified and potential U.S. tariffs prompted buyers to rush purchases. Benchmark three-month copper futures rose 0.9% to $14,510 per metric ton, touching an intraday historic high of $14,533 per metric ton. Copper prices have climbed 16% so far this year. Non-ferrous metal stocks in Hong Kong traded higher, with Jiangxi Copper (00358.HK) and CMOC Group (03993.HK) gaining over 4%, MMG Limited (01208.HK) rising 3.67%, and Zijin Mining (02899.HK) up 3.01%.

AASTOCKS22minutes ago

HK Market Watch | Gold stocks rebound this morning as the PBOC increases gold reserves for the 22nd consecutive month; Fed's September rate hike still hinges on CPI

Gold mining stocks rebounded this morning. As of press time, Zijin Mining (02899) rose 2.84% to HK$36.94, and China Gold International Resources (02099) gained 2.55% to HK$265.2.

Zhitong Finance10:12

LME copper prices hit an all-time high! Tariff arbitrage and favorable supply-demand dynamics resonate: AI demand emerges as a "new engine" while Chilean exports fall to a one-year low.

Tariff Turmoil and Mining Woes: Copper Prices Hit Record Highs.

Zhitong Finance09:06

HK Stock Market Update | Most Gold Stocks Under Pressure as Strong US August Non-Farm Payrolls Boost Rate Hike Expectations; Market Awaits CPI Data Release

Most gold stocks faced downward pressure. As of press time, Tongguan Gold (00340) fell 6.9% to HK$3.305, and Shandong Gold (01787) dropped 3.29% to HK$25.86.

Zhitong FinanceSep 7 13:53

Global Energy Roundup: Market Talk

The latest Market Talks covering Energy markets. Published exclusively on Dow Jones Newswires throughout the day. 0314 GMT - Iron ore prices are higher in early Asia trade, thanks to a temporary

WSJSep 7 11:14

Three major investment banks have uniformly adopted a bullish stance on gold, though their underlying rationales differ in emphasis.

Citi is monitoring the decline in oil prices following the reopening of the Strait of Hormuz, Goldman Sachs emphasizes continued gold purchases by global central banks, and UBS Group believes that rising global fiscal risks are driving demand for gold allocations.

Golden10 DataSep 7 08:53

Express News | Jinshi Data Summary: Key News Highlights for Sunday

Domestic News: 1. Eight central financial enterprises will increase capital by RMB 360 billion to replenish their capital base. 2. Continued volcanic eruptions in Indonesia prompt safety alerts from the Chinese Embassy in Indonesia. 3. The Ministry of Finance will issue special sovereign bonds to support the eight central financial enterprises in replenishing their capital. 4. Zijin Mining responds to textual errors in its financial report: extends sincere apologies, clarifying that the errors do not involve financial data in periodic reports. International News: 1. OPEC+ maintains October production levels unchanged. 2. U.S. stock markets closed on Monday for a holiday; trading in gold, silver, and oil ended early. 3. Corporate U.S. dollar deposits at major South Korean banks hit a record high this month. 4. OpenAI faces another security incident as its AI agent "hijacked" a German website. 5. White House officials: U.S. and Russian officials discussed the next substantive steps for negotiations on the Russia-Ukraine conflict, with related plans to be announced in the coming weeks. 6. Middle East Situation—① Iran's Islamic Revolutionary Guard Corps claims to have struck a U.S. aircraft carrier and destroyer. ② Iran targeted U.S. unmanned maritime vessels attempting to enter the Strait of Hormuz. ③ Speaker of the Iranian Parliament: Any future actions against Iran's interests and security will be met with a "swifter, fiercer, and more painful" response.

BreakingsSep 6 22:55

Will prosperity-driven investment return to A-shares? What is the impact of external rate-hike disruptions? Here are the strategic views from ten major brokerages.

Cailian Press, September 6 (Editor: Lin Xia) – The latest strategic outlooks from ten major brokerages have been released, as detailed below: Bank of China International Securities: External rate-hike disruptions persist; adopt a defensive stance in the short term. Non-farm payrolls data reinforces rate-hike expectations, making short-term interest rate volatility difficult to alleviate. Following the release of the August non-farm payrolls data, market pricing for a September rate hike has risen further. The CME-implied probability of a September rate hike has climbed to 59%, driving up long-end U.S. Treasury yields, with the 10-year yield briefly touching 4.79%. In the near term, the trajectory of rate-hike expectations hinges on the inflation data scheduled for release next week. The phased rebound in oil prices in August may exert marginal upward pressure on August inflation.

cls.cnSep 6 19:38

Express News | Guojin Securities: Recommends Three Potential Directions

Sinolink Securities stated that while the fog over the market has not yet lifted, the compass in hand is pointing toward potential directions. Three areas are recommended: First, on the commodities front, energy is the top recommendation. The energy and chemical chain, represented by coal, oil, oil transportation, and refining, will continue to benefit from global demand for energy restocking. Non-ferrous metals (copper, gold, aluminum), as assets negatively correlated with the US dollar, are currently suppressed only by exogenous variables; investors should wait for the right timing before the September FOMC meeting. Second, under a defensive mindset, the dividend style benefits from the rotation of absolute return seekers. Dividend assets characterized by high dividends, low volatility, and stable cash flows remain the core destination for the回流 (return) of absolute return capital. Third, amid expectations of tightening, the phased recovery of global manufacturing needs to wait for headwinds to subside. Assets in the export chain (such as construction machinery and power grid equipment) still hold allocation value.

BreakingsSep 6 17:08

Zijin Mining corrects textual errors in semi-annual report and issues apology

1. On the evening of September 5, Zijin Mining disclosed a correction announcement regarding textual errors in the notes to the financial statements included in its 2026 semi-annual report and other periodic reports, and issued a public apology; 2. The stock exchange had previously interviewed the company's relevant responsible parties at the earliest opportunity, ordered the company to strengthen its information disclosure management, and took corresponding regulatory measures in accordance with regulations.

cls.cnSep 6 09:06

Citi: Strait of Hormuz expected to reopen in Q4; short-term gold target price raised to $4,800

Citi regards the resumption of navigation in the Strait of Hormuz in Q4 2026 as its core scenario, anticipating that oil prices may decline rapidly following the reopening, thereby alleviating U.S. inflationary pressures, interest rate burdens, and debt stress. The bank maintains its bullish outlook on gold, expecting that weaker real interest rates and a softer U.S. dollar will further support gold prices. It sets the 0–3 month target price for gold at $4,800 per ounce and projects a price of $5,000 per ounce over the 6–12 month horizon.

wallstreetcnSep 5 14:41

Twenty-three lithium-ion battery companies convened in Tianfu New Area, marking the launch of China's first ESG collaboration mechanism for the entire lithium-ion battery supply chain.

Gelong Hui, September 5 – According to National Business Daily, the 4th Zero-Carbon Collaborative Innovation Conference was successfully held on September 3 at Longhu Lake in the Tianfu New Area of Sichuan Province. At the conference, the "Sustainable Lithium Battery Industry Working Group," led by Tianqi Lithium and covering the entire lithium battery value chain, was officially launched. This marks China’s first industry-wide ESG and sustainable development collaboration mechanism encompassing the entire upstream, midstream, and downstream supply chain. The working group will focus primarily on four key areas: mutual recognition of technical specifications for the EU’s new battery regulations and the battery passport, development of local carbon footprint data, collaborative efforts in supply chain traceability and security data, and industry sustainability narratives and international cooperation, with a commitment to reducing duplicate audits and

Gelonghui FinanceSep 5 11:03

How does Wall Street view the August non-farm payrolls? Strong employment figures have not ended the suspense over a September rate hike; next week's CPI holds "decisive significance."

The U.S. non-farm payrolls report for August was surprisingly strong, prompting the market to reassess the likelihood of a Federal Reserve rate hike in September. However, Wall Street does not believe this resolves the policy uncertainty. According to analysts at multiple institutions, while the robust employment data has indeed strengthened the hand of the hawkish camp within the Fed, it is insufficient on its own to determine the outcome of the September monetary policy meeting. The CPI data scheduled for release next week remains the key factor likely to "set the direction." On Friday, the U.S. Bureau of Labor Statistics reported that non-farm payrolls increased by 162,000 in August, far exceeding the market expectation of 56,000. Additionally, job gains for the previous two months were revised upward by a combined 55,000, with July's figure being adjusted from a decrease of 23,000.

wallstreetcnSep 5 03:45

Will ‘Dr. Copper’ surpass $15,000 early next year? Global copper mine output may see its first decline since 2017 this year

① Copper prices continue to hit record highs, as investors bet that stagnant growth in copper output will further drive up the price of this industrial metal; ② According to the latest data from the International Copper Study Group (ICSG), global copper mine production fell by 1.1% year-on-year in the first half of this year; ③ Morgan Stanley's forecasts indicate that global copper mine production may see its first annual decline since 2017.

cls.cnSep 4 23:22

Will gold shine again? Societe Generale reinstates bullish stance, Deutsche Bank declares "the cavalry has arrived," and leading asset managers are accelerating position building.

Société Générale has clearly reinstated its long position on gold, arguing that the impact of hawkish policies has been priced in and current downside risks are limited. Deutsche Bank confirms that a turning point for institutional capital has arrived, with hedge funds, asset managers, and banks successively increasing their purchases, although positions remain at low levels. Leading asset management firms such as Amundi, Robeco, and Fidelity have increased their gold holdings during the pullback, while structural factors like central bank gold purchases and de-dollarization provide foundational support for gold prices.

wallstreetcnSep 4 17:49

PIMCO: Fund begins reducing holdings in the "Magnificent Seven" tech stocks, shifting capital to Asian markets with a bullish outlook on Chinese financial and healthcare equities.

PIMCO fund manager Emmanuel Sharef stated that the next winners in the AI boom will not be among the large U.S. technology companies, but rather Asian equipment suppliers and Chinese financial and healthcare stocks. The surge in AI spending has increased corporate debt burdens and affected earnings prospects, diminishing the appeal of many of the largest U.S. tech firms. Sharef noted that due to excessive valuations, he is reducing holdings in most hyperscale cloud service providers and the majority of the "Magnificent Seven," arguing that it is not necessary to hold the most expensive stocks to

AASTOCKSSep 4 17:10

Express News | Zijin Mining and others have established a new copper research and technology company in Fujian, with a registered capital of RMB 100 million.

According to Tianyancha, Fujian Zijin Copper Research & Technology Co., Ltd. was recently established with a registered capital of RMB 100 million. Its business scope includes the rolling and processing of non-ferrous metals, the manufacturing and sales of non-ferrous metal alloys, and the sales of high-performance non-ferrous metals and alloy materials. Shareholder information indicates that the company is held by Fujian Zijin Copper Industry Co., Ltd. (a subsidiary of Zijin Mining), Guangdong Haotong New Materials Partnership (Limited Partnership), and Tongyan Technology (Guangdong) Co., Ltd., with respective shareholdings of 40%, 30%, and 30%.

BreakingsSep 4 16:10

Hong Kong Stocks Open | Hang Seng Index Opens 1.2% Higher; Gold and Tech Stocks Strengthen; Zijin Mining (02899) Rises Over 4%

On September 4, the Hang Seng Index opened 1.2% higher at 25,515.74 points; the Hang Seng Tech Index rose 1.46% to 4,533.82 points; and the SOE Index gained 1.15% to close at 8,481.28 points.

Zhitong FinanceSep 4 09:33