On June 4, MMG Limited fell 3.48% in regular trading, trading at 9.45 HKD/share, with trading volume of HKD 28.73 million. The decline came amid a pronounced divergence in global copper markets that pressured the Hong Kong-listed copper mining sector.

On the news front, the copper market is exhibiting a clear external-strong, internal-weak pattern. Overseas copper prices continue to climb, with COMEX copper approaching historic highs and LME copper reclaiming the $14,000/ton level, while Shanghai copper gains remain relatively muted. The COMEX-LME copper spread has sustained above $400/ton, creating a siphon effect as global copper resources flow toward the US market, exacerbating regional inventory imbalances. Goldman Sachs recently raised its LME copper year-end target to $13,735/ton, citing US stockpiling draining available supply outside the US, while major mine restarts lag expectations.

Within the Diversified Metals & Mining sector, the overall sector remained under pressure. Among individual stocks, CMOC down 4.18%, Lygend Resource down 4.19%, Wanguo Gold Group down 2.78%, Ximei Resources down 1.95%, Jiaxin International Resources down 0.7%.

(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.)