On June 24, Jiangxi Copper (00358.HK) declined 3.08% in regular trading, trading at HK$35.3/share with turnover of HK$64.75 million, marking the third consecutive session of significant losses.

The decline extends a multi-day selloff driven by persistently weak domestic downstream demand for copper. National Bureau of Statistics data shows negative growth in both automobile production/sales and home appliance output — key copper consumption sectors — while the real estate industry continues to deteriorate at what analysts characterize as a long-term structural turning point. Electrolytic copper rod weekly operating rates stand at 67.35%, showing marginal softening.

Adding to bearish sentiment, the final environmental audit report for Panama's Cobre copper mine showed an overall compliance rate of 88%, with authorities indicating no fundamental environmental damage, raising the probability of a mine restart that would add significant supply to global markets. Meanwhile, traders remain cautious ahead of the June 30 deadline for the U.S. Commerce Department's copper tariff assessment report, with markets pricing in a 43% probability of 15% tariffs on refined copper starting January next year.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)