CHINFMINING's stock plummeted 5.02% during intraday trading on Tuesday, extending recent declines for the copper mining company.

The sharp drop follows sustained profit-taking pressure after the stock had previously surged on strong first-quarter results, with net profit attributable to shareholders rising approximately 63% year-over-year. Additionally, unexpectedly strong US Producer Price Index data, which showed a 6% year-over-year increase in April, has fueled expectations of further Federal Reserve rate hikes, suppressing upside potential for non-ferrous metals like copper.

Market institutions have noted that short-term copper demand remains weak, adding further headwinds to the sector and contributing to the downward pressure on CHINFMINING's share price.