On June 30, Jiangxi Copper (00358.HK) fell 3.09% in regular trading, trading at HK$30.70/share, with turnover of HK$67.40 million. The decline comes on the exact deadline for the US Commerce Department to submit its updated copper tariff assessment report.

The US Commerce Department is required to deliver its final evaluation on whether to impose tariffs on refined copper imports by June 30, after which the Trump administration will decide whether to proceed with a phased 15% tariff starting in 2027, rising to 30% in 2028. Market concerns have intensified as the COMEX-LME copper spread narrowed to below $100/ton last week from over $400 previously, signaling growing doubt over tariff implementation. If tariffs are ultimately cancelled, the massive 65-ton-plus COMEX copper stockpile could flood back into global markets, pressuring non-US copper prices.

Compounding the sell-off, global central banks have pivoted hawkish — the ECB raised rates for the first time in three years on June 11, and the BOJ hiked again on June 16 — while US Fed rate hike expectations continue to build, strengthening the dollar and further suppressing copper prices.

(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.)