According to reports, copper stocks continue to decline. As of the time of this report, CMOC (03993) is down 4.21% to HKD 14.80; JIANGXI COPPER (00358) has fallen 3.95% to HKD 31.58; MMG (01208) is down 2.68% to HKD 6.53; and CHINFMINING (01258) has decreased by 2.21% to HKD 13.69.

In terms of news, there is intense competition between bulls and bears in the copper market. On the supply side, issues such as the shutdown of Indonesia's Grasberg mine, earthquakes in the Democratic Republic of the Congo, and tremors at the Ivanhoe Mines continue to develop. However, uncertainties in international trade and the U.S. Federal Reserve's monetary policy may have a disruptive effect on copper prices.

CITIC Construction Futures has issued a report stating that, overall, the market's risk aversion has increased due to delays in economic data release linked to the U.S. government shutdown. They expect short-term copper prices to mainly remain under pressure and fluctuate. Goldman Sachs has indicated that the short-term upside potential for copper prices is limited to USD 11,000 per ton. Although they remain bullish on copper in the long term, they believe that the market will continue to experience an oversupply in the short term, thereby restricting price gains.