Ge Long Hui A P P·2026-01-06 05:17Group 1 - The A-share market saw strong performance in the non-ferrous metal sector, with Luoyang Molybdenum (603993.SH) reaching a historical high of 22.03 yuan, up nearly 8%, and its market capitalization exceeding 470 billion yuan [1] - Concerns over supply shortages and the turmoil in Venezuela are driving expectations for increased competition for key global minerals, leading to a collective surge in the commodity market [1] - Spot gold prices rose over 3%, reaching a peak of 4,467 USD per ounce, while COMEX silver futures surged 7.95%, closing above 76 USD [1] Group 2 - Luoyang Molybdenum holds approximately 23% of the world's cobalt reserves and possesses world-class copper-cobalt mining clusters, with core mines having copper and cobalt grades significantly above industry averages [2] - The KFM Phase II production will add an additional 100,000 tons of copper capacity, supported by favorable cobalt export quotas from the Democratic Republic of Congo, contributing to high growth in performance [2] - The company benefits from resource endowment and digital reforms to reduce costs, maintaining relatively low copper production costs, and its "mining + trading" model enhances resilience against market fluctuations [2]