Group 1 - Copper stocks opened higher across the board, with Jiangxi Copper (00358) up 4.34% at HKD 35.12, Minmetals Resources (01208) up 4.04% at HKD 8.5, China Daye Nonferrous Metals (00661) up 3.77% at HKD 0.11, and China Nonferrous Mining (01258) up 3.16% at HKD 17.29 [1] - The recent ADP employment report showed a surprising decrease of 32,000 jobs in November, indicating a contraction in the labor market, which has led investors to increase bets on a potential interest rate cut by the Federal Reserve next week [1] - The market currently estimates an 89% probability of the Federal Reserve cutting rates next Wednesday, according to the CME FedWatch tool [1] Group 2 - CSPT has reached a consensus to reduce copper production capacity by over 10% in 2026, aiming to improve the supply-demand fundamentals of copper concentrate [1] - A report from Galaxy Securities indicates that the mining and smelting dynamics are stimulating an increase in copper prices [1] - The potential for the U.S. to impose additional tariffs on copper, along with the "siphoning effect" of U.S. copper leading to differentiated global inventory distribution, low non-U.S. inventories, and the Federal Reserve's ongoing rate cuts and possible balance sheet expansion in Q4 are expected to enhance market liquidity and drive copper prices higher [1]
港股异动 | 铜业股全线高开 降息预期升温 机构称多因素带动铜价继续上涨