On June 2, Zijin Mining rose 3.11% in regular trading, trading at 33.82 HKD/share, with trading volume of 8.14 billion HKD.

On the news front, Iran announced a complete blockade of the Strait of Hormuz, triggering a sharp escalation in geopolitical risk and boosting safe-haven demand for precious metals. The blockade further exacerbates the global sulfur supply chain disruption, placing additional downward pressure on hydrometallurgical copper output. Copper prices had already been elevated due to Peru's energy crisis constraining mine production and AI infrastructure buildout driving incremental copper demand. HSBC previously noted that Chinese copper equities have lagged copper price gains by approximately 20 percentage points, representing a historical valuation dislocation.

Additionally, S&P recently confirmed the company's BBB credit rating and revised the outlook to positive, projecting its debt-to-EBITDA ratio will decline to 0.9–1.0x, underscoring solid fundamental support. The company also signed a three-year strategic cooperation agreement with Naipu Mining Machinery covering product procurement and overseas project collaboration.

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