On September 18, MMG (01208.HK) rose 3.03% in regular trading, reaching HKD 8.845 per share, with turnover of approximately HKD 180 million. The stock climbed alongside a broad rally in Hong Kong-listed copper miners.

The move was driven by a sharp rebound in global copper prices. LME copper surged $259 to $14,492 per ton, while the Yangshan copper import premium rose to $121 per ton — its highest level in nearly four years — signaling robust physical buying demand in China. Shanghai Futures Exchange copper inventories fell to 54,780 tons, the lowest since January 2024, reinforcing the tight supply narrative. The U.S. dollar retreated from recent highs following the Federal Reserve's rate decision, easing pressure on dollar-denominated commodities.

MMG's rally also builds on strong fundamentals. The company recently reported record H1 results, with revenue surging 61% year-over-year to $4.54 billion and adjusted net profit jumping 164% to $897 million. Copper output reached 266,500 tons, the highest first-half level since 2018. Net debt fell sharply to $610 million, with leverage declining from 33% to 6%.

(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.)