Core Viewpoint - China Dajie Nonferrous Metals (00661) has seen a nearly 20% increase in stock price, attributed to market reactions to global copper smelting industry challenges and domestic policy changes [1] Industry Summary - Glencore plans to close its copper smelting plant in Canada due to high environmental renovation costs and stringent regulations, reflecting ongoing profit declines in the global smelting industry [1] - The copper concentrate supply tightness has pressured processing fees, with spot market processing fees turning negative since last year, indicating smelters are incurring costs rather than receiving payments for processing [1] - Domestic smelting sector is experiencing positive developments against internal competition, with CSPT's third-quarter meeting reaching consensus on user BM systems and measures to prevent vicious competition [1] - The China Nonferrous Metals Industry Association has suggested establishing production capacity caps for major metals like copper, lead, and zinc, drawing from the experience in electrolytic aluminum [1] - According to Dongfang Securities, the expected implementation of "anti-involution" measures may slow the growth of midstream smelting capacity, potentially leading to an upward improvement in processing fees in the medium term [1]
中国大冶有色金属再涨近20% 嘉能可拟关闭加拿大最大铜冶炼厂 国内冶炼端反内卷利好频出