09 Oct 2025 11:10:54 ET │ 18 pages Kingboard Laminates Holdings (1888.HK) Open 30D +ve CW on Recent Copper Strength and A-share Peers' 3Q Results CITI'S TAKE A c t i o n | After KBL's last ASP inflation of Rmb10/sheet (~7-8% on ASP) for copperclad laminate (CCL) in mid-Aug, the copper cost continued to surge by ~12% since then to US$10.7k per tonne. In addition to recent increase of KBL's UTR to ~88% in Sep with 10m sheets shipment versus avg 79% in 1H25, we believe KBL will very likely inflate ASP again th ...