Core Viewpoint - The non-ferrous metal sector experienced a rebound after a dip, with copper leading the gains, particularly driven by Jiangxi Copper's stock hitting the daily limit up [1] Group 1: Market Performance - Jiangxi Copper (600362) reached the daily limit up, indicating strong investor interest [1] - Northern Copper (000737), Luoyang Molybdenum (603993), and Xingye Silver Tin (000426) set new historical highs [1] - Yunnan Copper (000878), Tongling Nonferrous Metals (000630), and Western Mining (601168) also showed significant gains [1] Group 2: Price Movements - The LME copper futures contract briefly touched $11,000 per ton overnight [1] - Citigroup raised its 0-3 month copper price target from $10,500 per ton to $11,000 per ton [1] - The average copper price is expected to reach $12,000 per ton by Q2 2026 [1]

Market Overview - US stock indices closed lower on Thursday, with the Dow Jones Industrial Average recording its largest single-day drop in a month, down 243.36 points to 46358.42, a decline of 0.52% [1] - The S&P 500 index fell 18.61 points to 6735.11, down 0.28%, while the Nasdaq Composite dropped 18.75 points to 23024.63, a decrease of 0.08% [1] - Among the 11 sectors of the S&P 500, the materials sector saw the largest decline, while the consumer staples sector was the only one to rise [1] Earnings Season Insights - The upcoming earnings season is anticipated to show whether corporate profits can continue the stable growth seen in the past two quarters, with analysts expecting an 8.8% year-over-year increase in S&P 500 earnings for Q3, down from 13.8% in the previous quarter [2] - Major banks including JPMorgan Chase, Goldman Sachs, Citigroup, and Wells Fargo are set to report their earnings next week [2] Economic Indicators - The yield on the US 10-year Treasury rose by 1.7 basis points to 4.15%, while the 2-year Treasury yield increased by 1.3 basis points to 3.60% [3] - The futures market indicates a 94.6% probability of a 25 basis point rate cut by the Federal Reserve in October, as the job market may weaken further [2] Commodity Prices - International oil prices fell, with WTI crude oil futures down 1.66% to $61.51 per barrel, and Brent crude down 1.55% to $65.22 per barrel [3] - Gold prices also retreated, with spot gold down 1.62% to $3976.76 per ounce, and COMEX gold futures down 1.96% to $3990.9 per ounce [3] Corporate Developments - Delta Air Lines reported stronger-than-expected Q3 earnings and raised its guidance for the current quarter, resulting in a 4.3% increase in its stock price [2] - The Keator Group's partner noted that the market is adjusting due to a lack of new economic data and clear policy signals, which is a natural occurrence [2]

Group 1 - The Ministry of Finance announced the issuance of 1.3 trillion yuan of ultra-long-term special government bonds, with the issuance scheduled to conclude on October 14 [2] - The issuance includes 50-year and 20-year bonds, reflecting a proactive fiscal policy to stabilize the economy [2] Group 2 - The Ministry of Industry and Information Technology announced adjustments to the technical requirements for tax exemptions on new energy vehicles, effective from January 1, 2026 [3] - The new requirements will apply to pure electric passenger cars and plug-in hybrid vehicles, impacting the eligibility for tax exemptions [3] Group 3 - Local governments issued approximately 8.54 trillion yuan in bonds in the first three quarters of the year, a year-on-year increase of about 27% [9] - The accelerated bond issuance is part of a broader effort to implement a more active fiscal policy to support economic stability [9] Group 4 - The Nanjing Housing Provident Fund Management Center announced an increase in the maximum loan amount for individual contributors from 500,000 yuan to 800,000 yuan, effective from October 9, 2025 [11] - The maximum loan amount for families remains at 1 million yuan, aimed at promoting a stable and healthy real estate market [11] Group 5 - The transportation department reported a record high of 24.32 billion person-times of cross-regional travel during the recent holiday period, with an average of 3.04 billion person-times per day, a 6.2% increase year-on-year [10] - This surge in travel reflects strong consumer sentiment and the effectiveness of consumption promotion measures implemented by the government [10] Group 6 - The ASEAN+3 macroeconomic research office upgraded its economic growth forecast for the region to 4.1% for 2025, driven by strong export growth and economic performance in the first half of the year [18] - The positive outlook is attributed to easing market pressures following the U.S. government's tariff measures announced earlier this year [18] Group 7 - The stock market saw a collective decline in major indices, with the Nasdaq China Golden Dragon Index dropping by 2.01% [22] - Gold prices also fell below the 4,000 USD per ounce mark, indicating market volatility and investor sentiment shifts [22]

Group 1: Precious Metals Market - Domestic gold prices surged post-National Day holiday, with the Shanghai gold futures main contract breaking through 900 yuan per gram, marking a historical high and a year-to-date increase of over 47% [2][3] - International spot gold prices remain above 4000 USD per ounce, driven by factors such as the U.S. government shutdown and expectations of further interest rate cuts by the Federal Reserve, leading investors to view gold as a safe-haven asset [2] - Goldman Sachs has raised its gold price forecast for December 2026 to 4900 USD per ounce, up from a previous estimate of 4300 USD, indicating strong bullish sentiment in the gold market [2] Group 2: Strategic Metals - Prices of strategic metals such as copper, tin, and cobalt have also risen, with the domestic copper processing giant Jiangxi Copper hitting its daily limit up on October 9 [4] - The non-ferrous metals sector has seen a year-to-date increase of over 80%, leading the industry in performance [4] - Analysts predict a long-term supply shortage for copper due to increasing demand from technological advancements and potential supply-side reforms in the domestic copper smelting industry [4] Group 3: Agricultural Products - In contrast to the rising prices of precious and strategic metals, prices of agricultural products like live pigs and eggs are declining, with live pig futures dropping below 12000 yuan per ton, nearing historical lows [5] - The average price of live pigs in China fell by 2.4% month-on-month and 28.6% year-on-year as of late September [5] - The Chinese government has implemented policies to regulate pig production capacity, indicating a significant adjustment phase in the domestic pig industry despite falling prices [5] Group 4: Economic Policies and Market Outlook - Analysts suggest that upcoming economic policies will likely focus on structural adjustments rather than broad stimulus measures, as total demand remains weak [6][7] - The expectation of a renewed easing cycle by the Federal Reserve and ongoing domestic "anti-involution" measures are anticipated to support the performance of precious and some non-ferrous metals [7] - The continuation of "anti-involution" policies may lead to a balance in supply and demand for certain commodities, potentially resulting in price increases and improved industry dynamics [7]

格隆汇10月9日丨江西铜业股份(00358.HK)公告，公司股票价格于2025年9月29日、9月30日、10月9日连 续三个交易日内日收盘价格涨幅偏离值累计达到20%。根据上海证券交易所的相关规定，属于股票交易 异常波动情形。 公司核查发现的事项：经公司董事会自查及发函问询控股股东，截至本公告披露日，不存在应披露而未 披露的重大信息。 ...

经公司董事会自查及发函问询控股股东，截至本公告披露日，不存在应披露而未披露的重大信息。 （原标题：江西铜业股份(00358)A股股票交易异常波动 不存在应披露而未披露的重大信息） 智通财经APP讯，江西铜业股份(00358)公布，公司A股股票价格于 2025 年 9 月 29 日、9 月30 日、10 月 9 日连续三个交易日内日收盘价格涨幅偏离值累计达到20%。根据《上海证券交易所交易规则》的相关 规定，属于股票交易异常波动情形。 ...

江西铜业（600362）股份(00358)公布，公司A股股票价格于2025年9月29日、9月30日、10月9日连续三 个交易日内日收盘价格涨幅偏离值累计达到20%。根据《上海证券交易所交易规则》的相关规定，属于 股票交易异常波动情形。 经公司董事会自查及发函问询控股股东，截至本公告披露日，不存在应披露而未披露的重大信息。 ...

Summary of Key Points from Conference Call Records Industry Overview - The records discuss the gold, copper, and cobalt markets, highlighting their current trends and future outlooks. Gold Market Insights - The expectation of interest rate cuts by the Federal Reserve has positively impacted gold prices, which recently surpassed $4,000 per ounce, marking a 50% increase year-to-date [2][10][11] - Factors driving this increase include the Federal Reserve's 25 basis point rate cut, the U.S. government shutdown delaying economic data releases, and the potential for further rate cuts due to the Dodge 2.0 plan, which may lead to layoffs [2][10] - Long-term support for gold prices comes from global tensions, increased central bank gold purchases, and the declining status of the U.S. dollar, particularly with China's push for transactions in yuan for Australian iron ore [1][2] - Companies like Shandong Gold and Chifeng Jilong Gold are highlighted as undervalued with good performance expectations [1][3] Copper Market Insights - Copper prices have stabilized above $10,000, nearing historical highs, driven by its financial attributes in a low-interest-rate environment [1][4] - The copper industry faces supply constraints due to insufficient capital expenditure in recent years, frequent mining accidents, and significant production guidance downgrades from companies like Teck Resources [1][4][14] - Strong demand for copper is noted in traditional infrastructure and renewable energy sectors, suggesting a robust long-term outlook for copper prices [4][16] - Key companies to watch include Zijin Mining and Jiangxi Copper, which are expected to benefit from the supply-demand dynamics [1][4][17] Cobalt Market Insights - The cobalt market has seen price increases due to supply disruptions from the Democratic Republic of Congo (DRC) and quota systems that maintain high prices [5] - Companies less affected by DRC supply issues, such as Liyang New Energy and Huayou Cobalt, are recommended for investment [5] Lithium Market Insights - The lithium market is influenced by the submission of resource evaluation reports in Jiangxi Province, which will determine domestic supply dynamics [6] Solid-State Battery Developments - Recent breakthroughs in solid-state battery cathode materials, particularly in metallic lithium, are expected to significantly increase usage, benefiting companies like Ganfeng Lithium [8] Silver Market Insights - Silver is expected to show higher elasticity compared to gold in the current economic environment, with recommendations to focus on silver-related stocks [12] Investment Recommendations - Investors are advised to focus on leading companies with strong growth potential and profit release capabilities, such as Zijin Mining and Teck Resources, as well as undervalued second-tier stocks like Jiangxi Copper [17]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的 任 何 損 失 承 擔 任 何 責 任。 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條而作出。 茲 載 列 江 西 銅 業 股 份 有 限 公 司（「本公司」）在 中 華 人 民 共 和 國（「中 國」）上 海證券交易所網站(www.sse.com.cn)刊 登 之《江 西 銅 業 集 團 有 限 公 司 關 於〈股 票 交 易 異 常 波 動 問 詢 函〉的 回 覆》，僅 供 參 閱。 特 此 公 告。 江西銅業股份有限公司 2025 年９月 29 日、9 月 30 日、10 月 9 日，江西铜业股份 有限公司股票交易价格连续三个交易日内日收盘价格涨幅偏离 值累计超过 20%,根据《上海证券交易所交易规则》的有关规定, 属于股票交易异常波动情形。 上述情况本公司经自查确认不存在涉及公司的应披露而未 披露的重大信息,包括但不限于并购重组、股份发行 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的 任 何 損 失 承 擔 任 何 責 任。 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條而作出。 茲 載 列 江 西 銅 業 股 份 有 限 公 司（「本公司」）在 中 華 人 民 共 和 國（「中 國」）上 海證券交易所網站(www.sse.com.cn)刊 登 之《江 西 銅 業 股 份 有 限 公 司 股 票 交 易 異 常 波 動 公 告》，僅 供 參 閱。 特 此 公 告。 江西銅業股份有限公司 董事會 中 國 江 西 省 南 昌 市，二 零 二 五 年 十 月 九 日 於本公告日期，本公司執行董事為鄭高清先生、周少兵先生、高建民先生、 梁青先生及 喻旻昕先生；及 本 公 司 獨 立 非 執 行 董 事 為 王 豐 先 生、賴 丹 女 士 及 劉 淑 英 女 士。 证券代码：600362 证券简称：江西铜业 公告编号：临 2025-034 ...