--- title: "Pre-market trend | CHINFMINING (1258.HK) surged over 4% on May 7, are resource stocks back in action?" type: "News" locale: "en" url: "https://longbridge.com/en/news/285512563.md" description: "Yesterday, China Nonferrous Mining's stock price surged by 4.46%, with a trading volume reaching HKD 260 million, clearly indicating a pattern of rising volume and price. The MACD daily bullish signal has strengthened, and short-term momentum indicators are diverging upwards, which is typically interpreted by the market as a precursor to the initiation of a phase of main upward trend. On the market, the stock opened high and maintained a strong performance throughout the day, with no significant profit-taking observed at the close, highlighting the characteristics of bullish control. On the news front, the recent continuous rise in copper prices has become the biggest driving force. Zijin Mining rose by 2.31% yesterday, MMG surged by 7.32%, and CMOC increased by 2.61%, with the non-ferrous metal sector showing strong performance across the board, creating a powerful linkage effect. Although the news of the U.S. and Iran nearing a ceasefire memorandum has temporarily suppressed oil prices, industrial metals like copper benefit more from the global manufacturing recovery expectations and the long-term demand growth brought about by the energy transition. At the same time, China's steady growth policies continue to be reinforced, with infrastructure and power grid investments providing rigid support for copper demand. Resource stocks are being favored by funds outside of technology-focused stock selection funds during the ceasefire market. On the technical side, the current 5-day moving average is accelerating upwards, forming a bullish arrangement diverging upwards from the 10-day moving average, with the stock price effectively breaking through the recent consolidation platform. Trading volume has expanded to more than 1.5 times the average trading volume of the past 5 days, indicating a stronger influx of funds than typical rebounds. Within the sector, MMG and Zijin Mining are both strengthening simultaneously, forming a collective breakthrough in the copper mining sector. The short-term trend is biased towards bullish, with good alignment of volume and price, and clear sector resonance" datetime: "2026-05-08T01:00:00.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285512563.md) - [en](https://longbridge.com/en/news/285512563.md) - [zh-HK](https://longbridge.com/zh-HK/news/285512563.md) --- # Pre-market trend | CHINFMINING (1258.HK) surged over 4% on May 7, are resource stocks back in action? Yesterday, China Nonferrous Mining's stock price surged by 4.46%, with a trading volume reaching HKD 260 million, clearly showing a pattern of rising volume and price. The MACD daily bullish signal has strengthened, and short-term momentum indicators are diverging upwards, which is typically interpreted by the market as a precursor to the initiation of a phase of main upward trend. On the market, the stock opened high and maintained a strong performance throughout the day, with no significant profit-taking observed at the close, highlighting the characteristics of bullish control. On the news front, the recent continuous rise in copper prices has become the biggest driving force. Zijin Mining rose by 2.31% yesterday, MMG surged by 7.32%, and CMOC increased by 2.61%, with the non-ferrous metal sector showing strong performance across the board, creating a powerful linkage effect. Although the news of the U.S. and Iran nearing a ceasefire memorandum temporarily suppressed oil prices, industrial metals like copper benefit more from expectations of a global manufacturing recovery and long-term demand growth driven by the energy transition. Meanwhile, China's steady growth policies continue to be reinforced, with infrastructure and grid investments providing rigid support for copper demand, leading resource stocks to attract funds beyond technology-focused stock selection funds during the ceasefire market. From a technical perspective, the current 5-day moving average is accelerating upwards, forming a bullish arrangement diverging from the 10-day moving average, and the stock price has effectively broken through the recent consolidation platform. Trading volume has expanded to more than 1.5 times the average trading volume over the past 5 days, indicating a stronger influx of funds than typical rebounds. Within the sector, MMG and Zijin Mining are strengthening simultaneously, forming a collective breakthrough in the copper mining sector. The short-term trend is biased towards bullish, with good alignment of volume and price, and clear sector resonance. The risk lies in the possibility of a pullback in copper prices or a reversal in global macro sentiment, which could lead to short-term profit-taking in resource stocks that have seen significant gains. Attention should be paid to today's London copper trends and the continuity of internal sector linkages. _This article provides only technical analysis and market information for reference and does not constitute any investment advice. The market carries uncertainties, and investors should make independent decisions based on their own circumstances._ ### Related Stocks - [01258.HK](https://longbridge.com/en/quote/01258.HK.md) - [02899.HK](https://longbridge.com/en/quote/02899.HK.md) - [603993.CN](https://longbridge.com/en/quote/603993.CN.md) - [03993.HK](https://longbridge.com/en/quote/03993.HK.md) - [01208.HK](https://longbridge.com/en/quote/01208.HK.md) - [601899.CN](https://longbridge.com/en/quote/601899.CN.md) - [512400.CN](https://longbridge.com/en/quote/512400.CN.md) - [561330.CN](https://longbridge.com/en/quote/561330.CN.md) - [159871.CN](https://longbridge.com/en/quote/159871.CN.md) - [159881.CN](https://longbridge.com/en/quote/159881.CN.md) - [159876.CN](https://longbridge.com/en/quote/159876.CN.md) - [159880.CN](https://longbridge.com/en/quote/159880.CN.md) - [516650.CN](https://longbridge.com/en/quote/516650.CN.md) ## Related News & Research - [Zijin Mining Proposes 2026 Employee Stock Ownership Plan Using Repurchased A Shares](https://longbridge.com/en/news/285839913.md) - [China's factory inflation hits 45-month high on energy price shock](https://longbridge.com/en/news/285879012.md) - [METALS-Shanghai copper up most in a day since March on supply worries, demand expectations](https://longbridge.com/en/news/286032509.md) - [RBC Capital Reaffirms Their Hold Rating on Lundin Mining (LUNMF)](https://longbridge.com/en/news/286182607.md) - [Canada's Lundin Mining Q1 revenue rises on higher metal prices](https://longbridge.com/en/news/285445528.md)