On July 2, Jiangxi Copper (00358) fell 3.1% in regular trading, trading at approximately HK$30.04 with turnover of HK$112 million, extending the recent weakness across the copper sector.

On the news front, multiple headwinds are converging on copper prices. China's real estate market has reached a long-term inflection point, with copper's key downstream sectors showing deterioration — auto production and sales as well as home appliance output have both turned negative, while the property sector remains persistently weak. Electrolytic copper rod weekly utilization rates slipped marginally on a week-over-week basis. Simultaneously, US inflation resilience has exceeded expectations, fueling renewed Fed rate hike expectations that continue to suppress non-ferrous metal prices. Institutions have noted that copper prices face resistance at elevated levels and are likely to remain range-bound under pressure.

Additionally, net capital outflows of approximately RMB 200 million have been observed over the past five trading days, with rebound momentum weakening amid a bearish trend.

(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.)