CHINFMINING's stock soared 5.22% during intraday trading on Wednesday, reflecting strong investor confidence in the mining company.
The surge is attributed to a steady recovery in copper prices, with LME copper climbing back above USD 13,000 per tonne. Concurrently, copper inventories have been rapidly declining since mid-March, indicating resilient demand in the market.
Escalating Middle East conflicts have heightened uncertainty over copper ore supply, with rising costs and potential production cuts expected to tighten the copper supply landscape further. Broker analysis suggests that following first-quarter adjustments, the copper sector's valuation has fallen to attractive levels, enhancing its allocation appeal as domestic demand continues upward and supply-side disruptions resurface.