Nonferrous metals stocks showed strong performance in Hong Kong trading. As of press time, CHALCO (02600) rose 3.42% to HK$11.48, JIANGXI COPPER (00358) gained 3.12% to HK$35.08, JLMAG (06680) climbed 3.18% to HK$19.49, LINGBAO GOLD (03330) advanced 2.21% to HK$17.13, and ZIJIN MINING (02899) increased 1.08% to HK$33.56.

The market movement comes as U.S. White House National Economic Council Director Hassett recently stated that the next Federal Reserve Chair should be data-sensitive, suggesting a likely 25-basis-point rate cut at the upcoming meeting. Additionally, weak employment data has prompted traders to increase bets on further Fed easing.

Goldman Sachs noted in its latest report that clear signs of cooling in the U.S. labor market have made a 25-basis-point December rate cut nearly certain. Galaxy Securities previously indicated that after bottoming out in 2024, the nonferrous metals sector will benefit in 2025 from macro recovery expectations under the Geneva Agreement between China and the U.S., supply chain disruptions from trade policies, and liquidity easing during the Fed's rate cut cycle. These factors are expected to drive continuous price increases and earnings growth, marking the beginning of a new upcycle for the sector.

By 2026, these dynamics are projected to further boost nonferrous metals prices and corporate profitability, sustaining the industry's upward trajectory.