Changes in Hong Kong stocks | Copper stocks are opening higher across the board, interest rate cuts are expected to rise, institutions say multiple factors are driving copper prices to continue to rise

The Zhitong Finance App learned that copper stocks opened higher across the board. As of press release, Jiangxi Copper (00358) rose 4.34% to HK$35.12; Minmetals Resources (01208) rose 4.04% to HK$8.5; China Daye Nonferrous Metals (00661) rose 3.77% to HK$0.11; and China Nonferrous Metals (01258) rose 3.16% to HK$17.29.

According to the news, the number of people employed by ADP in the US unexpectedly fell by 32,000 in November. The data showed that the labor market was shrinking, making investors more betting that the Federal Reserve will cut interest rates next week. According to the CME FedWatch tool, the market currently anticipates an 89% chance that the Fed will cut interest rates next Wednesday. Furthermore, CSPT recently reached a consensus to reduce the copper production capacity load by more than 10% in 2026 and improve the fundamentals of copper concentrate supply and demand.

Galaxy Securities released a research report saying that mining and metallurgy spurred the rise in copper prices. Furthermore, under the possibility that the US may impose tariffs on copper in the future, the alienation of global inventory distribution due to the “siphon effect” of US copper, the low level of inventory levels in non-US regions, and the continued interest rate cuts in the fourth quarter and the possible cessation of contraction and the beginning of expansion are expected to increase market liquidity, all of which are expected to drive copper prices to continue to rise.