Movement Alert|Southern Copper Corp Rises 3.06% in Regular Trading, Copper Inventory Drawdown and Cooling Rate Hike Expectations Boost Copper Prices

Market Focus
08/17

On August 17, Southern Copper Corp rose 3.06% in regular trading, trading at $190.55/share, with turnover of $38.79 million.

On the news front, industry research reports indicate that global copper inventories continue to decline, with LME copper stockpiles falling 8.07% week-over-week and domestic electrolytic copper social inventory sitting at historical lows. Meanwhile, US July CPI came in line with expectations while retail data missed, causing the probability of a 25bp Fed rate hike in September to drop from 44.4% to 33.1%, signaling a notable cooling in tightening expectations.

Supply constraints combined with easing monetary policy expectations have bolstered copper prices, with LME copper approaching the historical high of $14,527.5/ton. Within the copper sector, stocks broadly strengthened, with TREKOR METALS up 4.43%, Ero Copper up 2.9%, and Freeport-McMoRan up 1.83%. Analysts note that in the medium-to-long term, insufficient copper mine capital expenditure and frequent supply disruptions may shift the copper supply-demand balance from tight equilibrium toward shortage, supporting further upside in 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.)

免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。

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