Understanding the Market | Copper stocks generally rise as copper prices perform strongly; institutions are optimistic that copper prices are likely to rise but difficult to fall
Copper stocks generally rose, with CHINFMINING up 4.66%, ZIJIN MINING up 4.24%, and CMOC up 3.63%. International copper prices soared, reaching a high of $9,984, with COMEX copper rising nearly 2%. Goldman Sachs raised its 2025 LME copper price forecast to $9,890, expecting it to reach $10,050 in August. MMG pointed out that U.S. copper tariffs are resurfacing, LME inventories are at low levels, making it easier for copper prices to rise than to fall. It is expected that the Federal Reserve will cut interest rates in September, and favorable macroeconomic data will drive copper prices up
According to Zhitong Finance APP, copper stocks generally rose. As of the time of writing, China Nonferrous Mining (01258) rose by 4.66% to HKD 7.63; Zijin Mining (02899) rose by 4.24% to HKD 20.9; CMOC (03993) rose by 3.63% to HKD 8.27; Jiangxi Copper (00358) rose by 3.02% to HKD 15.7; MMG (01208) rose by 1.57% to HKD 3.89.
On the news front, international copper prices soared on Tuesday, with the composite copper price rising by more than 1% at one point, reaching a high of USD 9,984; COMEX copper surged nearly 2%. Goldman Sachs stated in a research report that it has raised its forecast for LME copper prices in the second half of 2025 from USD 9,140 per ton to USD 9,890 per ton, and expects prices to peak at USD 10,050 per ton in August.
A report from WanLian Securities pointed out that the rumors of U.S. copper tariffs have resurfaced, coupled with low LME inventories, leading to warehouse squeezes in LME, while Shanghai copper has also broken through its fluctuation range and is running strongly. Looking ahead, attention should be paid to the results and timing of the Section 232 investigation in the second half of the year. Before the implementation of the Section 232 U.S. copper tariffs, copper prices are likely to rise and be difficult to fall. Currently, expectations are for the Federal Reserve to cut interest rates in September, and as monetary and fiscal policies support the economy, if more macro-positive data emerges, a trend in copper prices is expected to gradually approach
