Zhi Tong Cai Jing·2025-07-31 02:57Core Viewpoint - The copper industry stocks have experienced a significant decline following the announcement of a 50% tariff on imported copper products by U.S. President Trump, leading to a historic drop in copper prices [1] Group 1: Stock Performance - Zijin Mining (601899) saw a drop of 4.48%, trading at 21.3 HKD [1] - Jiangxi Copper (600362) decreased by 4.09%, with a price of 15.94 HKD [1] - Luoyang Molybdenum (603993) fell by 3.48%, priced at 9.15 HKD [1] - Minmetals Resources (01208) declined by 2.75%, trading at 3.89 HKD [1] Group 2: Tariff Announcement Impact - President Trump announced a 50% tariff on imported semi-finished copper products and copper-intensive derivatives starting August 1 [1] - Following the tariff announcement, New York copper prices plummeted approximately 20% within minutes, marking the largest single-day drop in history [1] - The tariff is expected to affect the recent influx of copper into the U.S., which may lead to a re-export of large quantities of copper [1] Group 3: Historical Context - Earlier in the year, Trump's initial hints at potential copper tariffs caused U.S. copper prices to rise significantly compared to global markets, resulting in a surge of copper shipments to the U.S. [1] - On July 9, Trump announced the 50% tariff, which was double the expectations of most market participants, leading to a record high in U.S. copper prices [1]