Copper stocks fluctuated higher. As of press time, CHINFMINING (01258) rose 4.07% to HK$15.6; MMG (01208) gained 3.48% to HK$8.615; CMOC (03993) advanced 2.76% to HK$15.29; and JIANGXI COPPER (00358) climbed 2.26% to HK$32.56.

On the news front, Deutsche Bank warned that globally freely tradable copper inventories have fallen to unprecedented lows. The United States continues to stockpile inventory, which is squeezing the spot supply available to other markets and could push the copper market into a "historic scramble." Daniel Ghali, head of metals research at Deutsche Bank, said on Monday that the copper market is currently facing "the worst copper shortage on record." Under the bank's extreme scenario, copper prices could rise to US$22,050 per ton by the second quarter of 2027, an increase of about 50% from current levels.