On July 16, CMOC Group rose 3.41% in regular trading, trading at HK$16.33/share, with turnover of HK$166 million.

On the news front, the company previously issued a positive profit alert, forecasting H1 net profit attributable to shareholders of RMB 15.5 billion to RMB 16.5 billion, representing year-on-year growth of 78.76% to 90.29%. Copper metal output reached approximately 388,000 tonnes, up about 9.73% year-on-year, driven by copper product volume and price increases, significantly higher molybdenum and tungsten prices, and the consolidation of its Brazilian gold mining operations.

Bank of America Securities reiterated a Buy rating with a target price of HK$22, confirming Q2 earnings beat expectations. Additionally, escalating US-Iran geopolitical tensions have provided support for non-ferrous metal prices, with copper prices maintaining elevated levels and sector sentiment recovering.

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