On September 14, MMG (01208.HK) fell 3.09% in regular trading to HKD 8.835, with turnover of approximately HKD 60.71 million. The stock has declined sharply from its 52-week high of HKD 11.960, reflecting broader weakness across the copper mining sector.

The pullback follows a turbulent week for copper markets. LME copper surged to a record above USD 14,700 per tonne earlier in the week, driven by structural supply-demand tightness and tariff-related speculation. However, prices reversed sharply after reports emerged that the White House had not yet decided on refined copper tariffs, triggering a 3.5% single-day drop in LME copper on September 11. Copper stocks including MMG plunged nearly 10% that day.

The latest industry weekly report noted that copper prices remain under pressure heading into the September FOMC meeting, with CME FedWatch indicating an 87.3% probability of a 25-basis-point rate hike — up 27.9 percentage points week-over-week. Elevated US PPI data further reinforced tightening expectations, adding headwinds to industrial metals. Domestically, Chinese copper social inventories dropped to just 8.75 thousand tonnes, while COMEX warehouses hold over 76.8 thousand short tons, highlighting persistent regional imbalances that remain unresolved amid tariff uncertainty.

(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.)