--- title: "Understanding the Market | Non-ferrous Stocks Under Pressure, Lingbao Gold Falls Nearly 6%, MMG Drops Over 4%" type: "News" locale: "en" url: "https://longbridge.com/en/news/286726533.md" description: "The non-ferrous stocks are under collective pressure, with LINGBAO GOLD falling 5.95% to HKD 18.65, and MMG dropping 4.08% to HKD 9.18. Influenced by the Middle East conflict and the U.S. PPI exceeding expectations, market expectations for a Federal Reserve interest rate hike have increased, with a nearly 40% probability of a 25 basis point hike in December. Dongfang Securities pointed out that expectations for liquidity recovery may affect the interest rate hike process, and industrial metal prices are facing phase fluctuations" datetime: "2026-05-18T06:54:03.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/286726533.md) - [en](https://longbridge.com/en/news/286726533.md) - [zh-HK](https://longbridge.com/zh-HK/news/286726533.md) --- # Understanding the Market | Non-ferrous Stocks Under Pressure, Lingbao Gold Falls Nearly 6%, MMG Drops Over 4% According to Zhitong Finance APP, non-ferrous stocks are under collective pressure. As of the time of publication, Lingbao Gold (03330) is down 5.95%, trading at HKD 18.65; MMG (01208) is down 4.08%, trading at HKD 9.18; Jiangxi Copper (00358) is down 3.46%, trading at HKD 35.72; China Aluminum (02600) is down 3.32%, trading at HKD 10.19; and Luoyang Molybdenum (03993) is down 2.42%, trading at HKD 17.91. On the news front, energy prices have surged sharply driven by the Middle East conflict, with the U.S. April PPI significantly exceeding expectations, marking the largest increase in over three years. U.S. Treasury yields subsequently jumped, and market bets on a Federal Reserve interest rate hike have significantly intensified. The CME FedWatch tool shows that the market currently estimates a nearly 40% probability of a 25 basis point rate hike by the Federal Reserve in December, up from just 13.6% a week ago. Dongfang Securities believes that considering the U.S. debt issue, there will be considerable resistance to actual rate hikes after Warsh takes office, and there may be expectations of liquidity recovery around the June FOMC. In terms of industrial metals, as prices recover to high levels, the market may gradually face a transition point between peak and off-peak seasons, with the pace of inventory reduction for various products slowing down. At this time, prices may experience periodic fluctuations, but considering supply disruptions for certain products and the strong support for prices from rigid demand in sectors such as power grids and semiconductors, the support may be relatively strong ### Related Stocks - [01208.HK](https://longbridge.com/en/quote/01208.HK.md) - [03330.HK](https://longbridge.com/en/quote/03330.HK.md) - [GOEX.US](https://longbridge.com/en/quote/GOEX.US.md) - [GDX.US](https://longbridge.com/en/quote/GDX.US.md) - [IAU.US](https://longbridge.com/en/quote/IAU.US.md) - [GOAU.US](https://longbridge.com/en/quote/GOAU.US.md) - [RING.US](https://longbridge.com/en/quote/RING.US.md) - [00358.HK](https://longbridge.com/en/quote/00358.HK.md) - [02600.HK](https://longbridge.com/en/quote/02600.HK.md) - [601600.CN](https://longbridge.com/en/quote/601600.CN.md) - [03993.HK](https://longbridge.com/en/quote/03993.HK.md) - [603993.CN](https://longbridge.com/en/quote/603993.CN.md) - [600958.CN](https://longbridge.com/en/quote/600958.CN.md) - [03958.HK](https://longbridge.com/en/quote/03958.HK.md) - [CME.US](https://longbridge.com/en/quote/CME.US.md) - [600362.CN](https://longbridge.com/en/quote/600362.CN.md) - [02919.HK](https://longbridge.com/en/quote/02919.HK.md) ## Related News & Research - [PRECIOUS-Gold edges higher from over 1-1/2-month low but higher yields cap gains](https://longbridge.com/en/news/286745980.md) - [PRECIOUS-Gold steadies after hitting over 1-1/2-month low on robust yields](https://longbridge.com/en/news/286724682.md) - [PRECIOUS-Gold slips to 1-1/2-month low as Middle East tensions lift oil, cloud rate outlook](https://longbridge.com/en/news/286695654.md) - [Franco Nevada (TSX:FNV) Net Margin Surge Tests Bullish Earnings Quality Narrative](https://longbridge.com/en/news/286475035.md) - [CIBC Remains a Buy on Orla Mining (OLA)](https://longbridge.com/en/news/286133294.md)