Investors are betting on a tightening of global copper supply, with processing fees falling to near-zero levels and copper prices approaching the US$9,000 per tonne level on the back of a possible end to the US Fed's interest rate hiking cycle. Three-month copper futures on the London Metal Exchange (LME) are now trading at US$8,927, hiking 3.1% and reaching an 11-month high.

In addition, the China Nonferrous Metals Industry Association yesterday (13 Mar) convened a seminar for copper smelting enterprises. The consensus formed at the meeting included promoting the structural adjustment of copper raw materials, adjusting the smelting production rhythm, as well as raising the threshold for entry and strict control of copper smelting capacity expansion.

JIANGXI COPPER (00358.HK)  +0.080 (+0.630%)    Short selling $6.26M; Ratio 4.092%   opened 4.29% higher today (14 Mar), once surging 9.4% to a high of $13.76. It is now trading at $13.2, lifting 4.93%, with a volume of 13.0786 million shares and a turnover of $176 million.

For other resource stocks, CDAYENONFER (00661.HK)  0.000 (0.000%)   and JINCHUAN INTL (02362.HK)  0.000 (0.000%)    Short selling $667.80K; Ratio 9.186%   rocketed 17.5% and 10.7% respectively. CHINFMINING (01258.HK)  +0.090 (+1.701%)    Short selling $2.87M; Ratio 3.979%   spiked 6.6%, while MMG (01208.HK)  +0.060 (+2.281%)    Short selling $5.05M; Ratio 6.532%   rallied 6.5%.

(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-02-07 16:25.)