On July 6, China Molybdenum rose 3.21% in regular trading, trading at HKD 16.52/share, with turnover of HKD 120 million.

On the news front, the company previously announced the suspension of tailings supply to Luoyang Yulu Mining, a subsidiary controlled by Xiamen Tungsten, causing the latter to essentially halt production. China Molybdenum stated the decision was driven by national compliance requirements for tungsten mining management. The market has interpreted this event as a strategic move by the company to reclaim high-value tungsten resources — with tungsten prices currently running at near three-year highs, the economic value of self-recovering white tungsten concentrate from tailings has risen significantly.

Additionally, the company indicated plans to implement an interim dividend this year. The broader copper sector also strengthened, with peers including Zijin Mining and MMG posting gains, providing sector-wide support for sentiment. Multiple brokerages including Pacific Securities and CITIC Securities maintain buy ratings on the stock, with a consensus target price of HKD 24.7.

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