The National Development and Reform Commission encourages large alumina and copper smelting enterprises to implement mergers and reorganizations, Jiangxi Copper surges over 10%

The National Development and Reform Commission published an article titled "Vigorously Promote the Optimization and Upgrading of Traditional Industries" last Friday (26th), stating that it encourages large backbone enterprises in alumina and copper smelting to implement mergers and reorganizations, enhance scale and group levels, improve industrial competitiveness, and indicates that it will focus on supporting backbone enterprises in technological research and development to enhance the technological advantages of the entire industrial chain. It will promote a new round of strategic actions for breakthrough mineral exploration and optimize cooperation in the exploration and development of overseas mineral resources.

The news stimulated positive performance in related stocks. Jiangxi Copper (00358.HK) opened up 9.99% this morning, reaching a high of HKD 41.98; it is currently reported at HKD 41.2, up 10.63%, with a trading volume of 10.8903 million shares, involving HKD 448 million. China Aluminum (02600.HK) also opened up 4.39%, reaching a high of HKD 12.06; it is currently reported at HKD 11.91, up 4.47%, with a trading volume of 13.2304 million shares, involving HKD 158 million. China Nonferrous Mining (01258.HK) opened up 5.15% today, reaching a high of HKD 15.55; it is currently reported at HKD 15.08, up 3.64%