On June 2, China Nonferrous Mining rose 3.83% in regular trading, trading at HKD 15.04/share, with trading volume of approximately HKD 12.25 million, rebounding sharply from the prior week's pullback.

On the news front, Chile's National Statistics Institute reported that the world's largest copper producer saw April output plunge 13.8% year-over-year, further validating the supply-constrained thesis. This follows Codelco's admission of production data errors that revealed output at its lowest since 1998, while Peru's energy crisis legislation continues to threaten mining operations. Institutions estimate the global copper deficit at 13-60 thousand tons for the year, with new supply growth of only 1-2%, far below demand growth driven by new energy applications.

The company recently raised its related-party transaction annual caps, citing international copper price increases with a benchmark lifted to USD 15,000/ton. Q1 net profit surged approximately 63% year-over-year with gross margin improving to 31.1%, underpinning fundamental support. Within the Copper sector, Jiangxi Copper rose 5.66%, while Jinxun Resource gained 1.68%.

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