On September 29, MMG rose 3.06% in regular trading, trading at HK$8.615 per share with turnover of approximately HK$108 million, rebounding from last week's broad copper sector weakness.

On the news front, the world's largest copper mine — BHP-operated Escondida in Chile — has been fully shut down following a fatal workplace accident, with all site operations suspended. The supply disruption at this top-producing mine is expected to tighten the global copper market further. Meanwhile, southbound capital has accumulated net purchases of over 82.93 million MMG shares over the past 20 trading sessions, lifting mainland investor holdings to 9.58% of total shares outstanding, signaling sustained institutional interest.

The supply shock comes against a backdrop of already tight copper fundamentals. Industry data earlier indicated global copper mine output declined 1.1% in H1, with major producers reporting double-digit drops, pointing to a potential first annual production decline since 2017. Brokerages including Citi and Bank of America have recently raised their target prices for MMG to HK$12, maintaining Buy ratings, citing the company's record H1 results — revenue of US$4.54 billion (+61% YoY) and adjusted net profit of US$897 million (+164% YoY).

Within the Diversified Metals and Mining sector, CMOC rose 2.76%, Zijin Mining rose 1.33%, and Wanguo Gold Group rose 0.54%, reflecting a broad sector recovery.

(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.)